Section 8 Fair Market Rent (FMR) for ZIP 24826 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor analyzing ZIP code 24826 might have several concerns regarding the viability of renting properties under the Section 8 program. Let's address these objections directly using available data.

• Will FMR $870 (metro FY 2026) cover the mortgage on a home? The data does not provide specific figures for median home prices or typical mortgage payments in ZIP 24826. However, the Fair Market Rent (FMR) of $870 per month must be compared against the actual costs of owning a property, including mortgage payments, property taxes, insurance, and maintenance. Without precise data on these costs, it's impossible to definitively state whether the FMR will cover the mortgage. Landlords should calculate their total expenses and compare them to the FMR to determine if it meets their financial needs.
• Is there enough renter demand at 80.5%? The occupancy rate of 80.5% suggests that there is significant demand for rental properties in ZIP 24826. This figure indicates that a majority of units are occupied, which is a positive sign for potential rental income. However, it's important to note that while demand appears strong, the percentage alone does not account for the competition among landlords or the quality of the housing stock. A high occupancy rate can also mean that the market is saturated with low-quality rentals, which might not command the highest rents. Therefore, the demand seems sufficient, but the specifics of the local rental market should be considered.
• Will vouchers keep pace with market rents? The FMR of $870 is set to ensure that voucher holders can afford decent housing in the area. Whether this amount keeps pace with the market rents depends on how closely the FMR aligns with the actual rents charged. If the FMR is below the average market rent, landlords may find themselves subsidizing the difference, which could impact profitability. The data does not specify if the voucher amounts are adjusted annually to reflect changes in market conditions. To accurately assess this, one would need to track historical adjustments in voucher amounts and compare them to the growth in market rents over the same period.

The analysis of ZIP 24826 under the Section 8 program shows a mix of promising indicators and areas requiring further investigation. While the occupancy rate suggests demand, the lack of detailed financial data means that some questions cannot be fully answered. Landlords and small-portfolio investors should conduct thorough due diligence to understand the local rental market dynamics and financial implications before committing to Section 8 participation.

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.