Location: Madison County, VA | Metro: Madison County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
ZIP code 22711, located within the Madison County, VA metro, exhibits distinct characteristics that set it apart from typical ZIP codes in the area. The Fair Market Rent (FMR) for 22711 is $930 for fiscal year 2024, which serves as a critical benchmark for understanding the rental dynamics within the region.
While market rent and home value data for ZIP 22711 are currently unavailable, the 25.7% renter share provides significant insight into the housing landscape. This percentage is notably higher than the average renter share in Madison County, indicating a strong demand for rental properties within this ZIP code.
The absence of market rent and home value data suggests that 22711 might be a niche market within the larger Madison County area, possibly due to limited housing stock or unique local conditions. However, given the FMR and the elevated renter share, it can be inferred that 22711 is likely a value pocket for landlords and small-portfolio investors interested in the Section 8 housing program.
A value pocket typically refers to an area where the cost of living is lower relative to surrounding areas, making it attractive for low-income renters. In ZIP 22711, the high proportion of renters combined with the FMR figure points towards a concentration of affordable housing options. Landlords who participate in the Section 8 program can expect a steady stream of tenants willing to pay the subsidized rent rate of $930.
In contrast to premium sub-markets, which would likely have higher home values and potentially higher rents, 22711 appears to cater to a segment of the population that relies heavily on rental assistance programs. This makes it a strategic location for investors looking to capitalize on the demand for affordable rentals.
Investors should note that the reliance on rental subsidies in 22711 could mean that property values are lower compared to other ZIP codes in the county. However, the stability provided by the Section 8 program can offset potential risks associated with lower property values.
To conclude, ZIP 22711 represents a value pocket within the Madison County, VA metro, characterized by a high renter share and a defined FMR. While lacking comprehensive data on market rents and home values, the available figures suggest a robust opportunity for landlords and investors involved in the Section 8 housing program.
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.