Location: Kingsport-Bristol, TN | Metro: Kingsport-Bristol, TN-VA MSA
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 | $860 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $256,577 | 0.48% | F |
| 3BR | $1,560 | $338,238 | 0.46% | F |
| 4BR | $1,670 | $468,602 | 0.36% | F |
| 5BR | $1,937 | $609,365 | 0.32% | F |
U.S. Census Bureau data (2024)
In Abingdon, Virginia (ZIP 24211), the economics of Section 8 housing involve understanding both the SAFMR (Small Area Fair Market Rent) and the local market rent dynamics. For a two-bedroom apartment, the SAFMR for fiscal year 2024 is set at $990. This figure is specific to this ZIP code and represents the maximum amount that a Section 8 voucher can cover for rent.
The local market rent, according to Census ACS data, is slightly higher at $1,033. This indicates that landlords in this area might face a small gap between what they could charge and what the voucher covers. However, the actual reimbursement received by landlords includes more than just the base rent.
A Section 8 voucher pays a combination of the tenant's portion and an additional utility allowance. Typically, the tenant is responsible for paying 30% of their adjusted income towards rent. The remaining amount up to the SAFMR is covered by the voucher. Utility allowances are also included, which vary but are designed to help cover basic living expenses such as electricity, gas, and water.
To illustrate, if a tenant has an adjusted income of $1,650 per month, 30% of this would be $495, which is the amount the tenant must pay toward rent. The voucher would then cover the difference between the tenant’s payment and the SAFMR, up to $990. If the total rent charged is $1,033, the voucher would reimburse the landlord $535 ($990 - $455) plus any applicable utility allowance.
The utility allowance can vary based on the type of unit and the location. In ZIP 24211, it typically ranges from $150 to $250 per month. Adding this allowance to the reimbursement, a landlord might receive between $685 and $785 in total monthly reimbursement for a two-bedroom unit rented at $1,033.
This means that landlords in ZIP 24211 could expect a reimbursement gap of around $248 to $348 per month when renting a two-bedroom apartment at the local market rate. Conversely, if the rent is set below the market rate but still within the SAFMR, there would be no surplus or gap, and landlords would receive a stable, predictable income.
Understanding these economic factors helps landlords make informed decisions about participating in the Section 8 program, balancing the benefits of guaranteed payments with the potential for a small financial shortfall compared to market rents.
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.