Location: Madison County, VA | Metro: Madison County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 22731, located in the Madison County, VA metro area, hinges on the Federal Market Rent (FMR) figure of $1040 for fiscal year 2024. Given that the market rent is listed as N/A, it's challenging to make a direct comparison; however, the FMR can be used as a benchmark for rental income expectations under government assistance programs.
Regarding acquisition affordability, the median home value of $397,435 suggests that buying properties in this area is relatively accessible compared to more expensive markets. The lack of specific data on days on market (DOM) and the percentage of homes requiring price cuts indicates a stable housing market, though without precise figures, it's difficult to provide a detailed analysis. Nonetheless, the median home value remains a key indicator for potential investment costs.
Tenant demand in ZIP 22731 is supported by its population of 70 and a renter share of 34.3%. This implies a consistent need for rental properties, even in a small community. Landlords and small-portfolio investors can expect a reasonable pool of tenants seeking housing assistance through programs tied to the FMR.
Verdict: ZIP 22731 offers a viable investment opportunity for those interested in Section 8 properties. With an FMR of $1040, landlords can secure a steady stream of rental income through government-assisted tenants. The median home value at $397,435 is within a range that allows for manageable acquisition costs. Although specific market data is incomplete, the established renter share of 34.3% ensures a reliable demand for rental units. Investors should proceed with confidence, leveraging the FMR as a foundational element of their financial planning.
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.