Location: Virginia Beach-Norfolk-Newport News, VA | Metro: Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area
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 | $1,180 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $290,987 | 0.46% | F |
| 3BR | $1,850 | $397,462 | 0.47% | F |
| 4BR | $2,180 | $488,455 | 0.45% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 27939, North Carolina, suggests a firm hold on pricing power over the next 12 to 24 months. With a median home value of $389,967, the market is stable, and only 0.1% of listings have seen reductions. This indicates that sellers are maintaining strong control over their asking prices, a trend likely to continue given the low rate of price adjustments.
The median days on market (DOM) being listed as N/A can be interpreted as a sign of quick sales, which further supports the idea of robust demand. When combined with the minimal reduction in listing prices, it signals that buyers are willing to meet the asking prices without significant negotiation, a scenario conducive to maintaining or even slightly increasing home values.
On the rental side, the Fair Market Rent (FMR) for ZIP 27939 in fiscal year 2024 is set at $1,360, while the current market rent stands at $1,122. This gap suggests an upward pressure on rental rates, aligning with potential increases in property values. Landlords and small-portfolio investors should expect rental rates to rise towards the FMR level, providing additional income streams and reinforcing the value of their investments.
For long-term investors, the setup implies a realistic appreciation thesis. The stability in home values, coupled with the anticipated rise in rental rates, positions ZIP 27939 for gradual growth rather than speculative bubbles. This environment favors investors looking for steady returns and capital appreciation over time, rather than short-term gains.
In summary, the combination of a high median home value, low percentage of price reductions, and quick sales indicate a strong seller's market. Rental dynamics also suggest positive momentum, with rates expected to increase. These factors collectively point to a favorable outlook for those holding real estate assets in ZIP 27939, with the potential for continued appreciation and rising rental incomes.
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.