Location: Lunenburg County, VA | Metro: Lunenburg County, VA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $107,646 | 0.87% | C |
| 3BR | $1,200 | $159,122 | 0.75% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 23974 in Victoria, Virginia, set at $910 for the metro area fiscal year 2026, represents the maximum amount the federal government will pay landlords participating in the Section 8 Housing Choice Voucher program. This does not mean you can charge $910 to your tenants; it's the payment standard, meaning the voucher will cover up to this amount. If your rental costs more than $910, the tenant must make up the difference.
To put this into perspective, the median rent in the area is currently $815, according to recent Census Bureau American Community Survey data. This indicates that the FMR is slightly above the average rent, which could be beneficial if you're looking to participate in the program.
Victoria has a significant renter population, with 34.2% of residents being renters. This high percentage suggests there is a strong demand for rental properties, including those under the Section 8 program. However, it also means competition among landlords for these vouchers might exist.
If you're considering purchasing a property to become a Section 8 rental, the median home value in ZIP 23974 is around $134,306. This figure gives you an idea of the potential acquisition cost for a property in the area, though actual prices may vary based on condition and location.
Before proceeding with a Section 8 rental, ensure you verify the physical condition of the property against the Housing Quality Standards (HQS). These standards are a set of minimum requirements that all units participating in the program must meet. Failure to comply with HQS can result in penalties or disqualification from the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.