Location: Buckingham County, VA | Metro: Buckingham County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
12.2% of the residents in ZIP 23004 are renters, indicating a moderate demand for rental properties in the area. The market rent stands at $588 according to the Census ACS, which is significantly lower than the Fair Market Rent (FMR) of $910 set for metro areas in fiscal year 2026. This discrepancy suggests potential opportunities for landlords to increase rents while still remaining competitive. The median home value in the region is $230,701, providing a benchmark for property values and indicating a stable housing market. Landlords can expect a median income of $66,131 from their tenants, which is crucial for assessing the financial stability of potential renters. However, the lack of data on days on market (DOM) and the percentage of price-cut shares means there's insufficient information to gauge how quickly properties are selling or if they're experiencing price reductions. Given the higher FMR compared to the market rent and the stable median home value, ZIP 23004 appears favorable for Section 8 investments. Landlords should be aware of the tenant income levels to ensure compliance with program requirements.
Based on the available data, the verdict for Section 8 investments in ZIP 23004 is positive, with a strong potential for landlords to participate in a stable and financially viable market.
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.