Location: Halifax County, VA | Metro: Halifax County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 24589 are governed by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1,030 per month for fiscal year 2026. This figure represents the maximum amount that the program will pay towards a landlord's rental income. It's important to note that the local market rent for a similar unit in this ZIP code is lower, averaging at $904 according to the latest Census ACS data.
A landlord participating in the Section 8 program should understand that the reimbursement they receive is composed of several elements. First, there is the tenant portion, which is typically 30% of their household income. Second, there is the utility allowance, which covers some of the costs associated with electricity, gas, water, and sewer services. These allowances can vary based on the size of the apartment and the number of occupants, but they are capped by the program.
To illustrate, let's assume a hypothetical tenant whose household income is $2,000 per month. Their contribution would be $600 (30% of $2,000). If the utility allowance for a two-bedroom apartment in ZIP 24589 is $200, the total reimbursement a landlord could expect would be $800 ($600 tenant contribution + $200 utility allowance).
This means that if you charge the SAFMR rate of $1,030, you would have a reimbursement gap of $230 per month. Conversely, if you charge the average local market rent of $904, you would have a surplus of $76 per month, assuming the reimbursement remains at $800 as calculated above. However, it's crucial to remember that the actual reimbursement amount can vary depending on the specific circumstances of each tenant, including their income level and family size.
In summary, landlords in ZIP 24589 should be aware that the SAFMR rate is set specifically for this area and not uniformly across the county or metropolitan region. The reimbursement gap or surplus depends on the market rent you set versus the reimbursement amount determined by the tenant's income and utility allowances. For a two-bedroom apartment, you can expect a reimbursement gap if you charge the higher SAFMR rate or a surplus if you charge below the SAFMR rate.
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.