Location: King and Queen County, VA | Metro: King and Queen County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The rent math for ZIP 23108 in King and Queen County, VA, does not work favorably for landlords or small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1090 for FY 2024. However, due to the lack of available market rent data, it's impossible to directly compare these figures. This absence suggests either limited rental activity or insufficient data collection.
Regarding property acquisition, the area presents challenges. With no specific median home value provided, coupled with the unavailability of days on market (DOM) and the percentage of homes needing price cuts, it's difficult to assess the affordability and liquidity of property purchases. Landlords seeking to acquire properties should proceed with caution until more detailed local real estate market data is available.
Tenant demand in ZIP 23108 is minimal. The population is only 22, and the renter share is 0.0%, indicating that nearly all residents own their homes. This low demand for rental housing makes it an unfavorable location for landlords looking to lease properties.
Verdict: ZIP 23108 is not a viable investment option for landlords or small-portfolio investors due to the lack of reliable market rent data, the unaffordability and potential illiquidity of property acquisitions, and the extremely low tenant demand. The combination of these factors suggests that generating a consistent rental income in this area would be challenging.
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.