Location: Winchester, VA | Metro: Winchester, VA-WV 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 | $1,020 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,770 | $307,836 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 26817 presents several challenges for landlords considering participation in the Section 8 program. Firstly, the tenant turnover rate can be higher due to the difference between the market rent and the Fair Market Rent (FMR) of $1420 set for FY 2024. This discrepancy may lead to frequent changes in occupancy, which can be costly and time-consuming. Secondly, the vacancy exposure is significant given the lack of data on days on market (DOM), indicating potential difficulties in filling vacancies quickly. Lastly, there is an increased risk of deferred maintenance. The typical home value in this area is $284,427, while the median income is only $68,750, suggesting that residents may struggle to afford necessary repairs, thus placing the burden on landlords to maintain properties at a higher cost.
However, these risks must be weighed against the unique advantage of the 0.0% renter share in ZIP 26817. High renter density typically correlates with a greater demand for housing vouchers, which can stabilize rental income and reduce the likelihood of extended vacancies. Despite the absence of specific data on renter share, the presence of voucher holders in the area can provide a steady stream of tenants who are committed to paying their rent through the voucher program.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.