Location: Dickenson County, VA | Metro: Dickenson County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 24269 are defined by the SAFMR (Small Area Fair Market Rent) which is set at $950 for a two-bedroom apartment in fiscal year 2026. This figure represents the maximum amount that the housing authority will reimburse landlords for a two-bedroom unit. It's important to note that this rate is specific to this ZIP code, ensuring it reflects local rental conditions accurately.
A landlord participating in the Section 8 program receives reimbursement based on the voucher holder's contribution plus the utility allowance. The tenant's portion is typically 30% of their adjusted income, while utility allowances vary but are usually around $200-$250 per month. Therefore, if a tenant has an adjusted income of $1,500, they would contribute $450 toward rent ($1,500 x 0.30). Adding a standard utility allowance of $225, the total reimbursement a landlord can expect is $675 per month.
This means that out of the $950 SAFMR, the landlord receives $675 directly from the tenant and the housing authority, leaving a potential reimbursement gap of $275. In other words, landlords must be prepared to accept a lower net rent compared to the market rate, which currently does not have available data for ZIP 24269. However, the SAFMR of $950 serves as a benchmark for the maximum allowable rent charge under the program.
The reimbursement gap or surplus depends on the actual market rent for two-bedroom apartments in ZIP 24269. Since the local market rent is not specified, we cannot determine if there is a surplus where the SAFMR exceeds the market rate or a gap where the market rent is higher than the SAFMR. Landlords should consider these factors when deciding whether to participate in the Section 8 program.
To summarize, for a two-bedroom apartment in ZIP 24269, the SAFMR is $950, and the typical reimbursement after accounting for the tenant's portion and utility allowances totals $675. This leaves a reimbursement gap of $275, unless the local market rent is below the SAFMR, in which case there could be a surplus.
Data Sources: FMR data from HUD (2027). 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.