Location: Virginia Beach-Norfolk-Newport News, VA | Metro: Virginia Beach-Norfolk-Newport News, VA-NC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
To classify ZIP code 23125 in Unknown, VA, we must analyze the available data points on yield and stability. The Fair Market Rent (FMR) for 2024 is set at $1200 for this area, which is the only concrete figure we have. Without comparative market rent or median home values, we cannot fully assess the yield potential. However, given the FMR alone, we can infer that properties renting at or below this rate would be considered affordable housing options under the HUD guidelines.
On the axis of stability, the lack of specific percentages for renters, days on market (DOM), and median income makes it difficult to provide a comprehensive analysis. Typically, a higher percentage of renters and lower DOM suggest a stable rental market, while median income levels indicate the economic health and ability of residents to sustain rent payments.
Despite these limitations, we can still make some observations. The FMR of $1200 sets a baseline for rental pricing, which could be indicative of a low-cost housing area. This would generally appeal to first-time renters or those with limited financial resources. In such a scenario, the market could lean towards being a steady-cashflow zone, assuming that the majority of the population can reliably afford the rent. However, without additional data on the local economy and the proportion of renters who are likely to default, it's challenging to definitively categorize the stability of the market.
In summary, ZIP 23125 appears to be positioned for steady cash flow based on the affordable FMR, but the absence of other key data points means we cannot conclusively determine whether it is a high-yield/low-stability market or simply a stable rental environment. To make a more precise classification, further research into local economic conditions and rental market specifics would be necessary.
Data Sources: FMR data from HUD (2027).
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.