Section 8 Fair Market Rent (FMR) for ZIP 24431 - 2027

Investment Score for ZIP 24431

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$980
1 Bedroom	$1,010
2 Bedrooms	$1,170
3 Bedrooms	$1,590
4 Bedrooms	$1,830
5 Bedrooms	$2,123
6 Bedrooms	$2,378
7 Bedrooms	$2,568
8 Bedrooms	$2,696

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,590	$377,617	0.42%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the provided data, the Fair Market Rent (FMR) for ZIP 24431 in Crimora, VA for fiscal year 2024 is $1,170. However, the specific market rent figures for the same period are not readily available from the sources searched. Given the context of 8.1% of residents being renters, a median home value of $351,352, and a median income of $78,856, it is evident that the rental market plays a significant role in the local economy. The disparity between the FMR and the actual market rent can impact investment decisions for landlords and small-portfolio investors. If the market rent were higher than the FMR of $1,170, accepting Section 8 vouchers would mean renting below the open-market rate. This scenario would require an assessment of the potential yield versus the risks associated with lower rent. Conversely, if the market rent were lower than $1,170, the gap would indicate a yield opportunity for landlords who accept Section 8 vouchers, as they could receive higher rent payments through the voucher program than what the market offers.

To make informed decisions, landlords should consider the specific dynamics of the rental market in ZIP 24431, including vacancy rates, demand for affordable housing, and the reliability of Section 8 payments.

• The FMR is $1,170 for fiscal year 2024.
• The median income is $78,856, suggesting that many residents may rely on affordable housing options.
• The median home value is $351,352, indicating a relatively stable real estate market.
• The percentage of renters is 8.1%, which reflects the importance of rental properties in the area.

In conclusion, while the exact market rent is not specified, the FMR provides a benchmark for evaluating the financial implications of accepting Section 8 tenants. Landlords must weigh the benefits of stable income against the potential for lower yields compared to open-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.