Location: Northampton County, VA | Metro: Northampton County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 23398 within the Northampton County, VA metro area reveals several key insights for landlords and small-portfolio investors.
First, let's address whether the rent math works. The Fair Market Rent (FMR) for the area, set at $910 for fiscal year 2026, is a crucial benchmark. However, due to limited data on market rent, it's challenging to directly compare FMR against the prevailing rental rates. This ambiguity suggests that while $910 may be a reliable starting point, further investigation into local rental trends is necessary to ensure profitability.
Moving on to the affordability of acquisitions, the median home value in ZIP 23398 is currently unavailable. Similarly, the days on market (DOM) and the percentage of homes that required price cuts are also not specified. These missing details make it difficult to assess the overall cost and risk associated with acquiring properties in the area. Landlords should seek additional resources to fill these gaps before making investment decisions.
Last, regarding tenant demand, the ZIP code has a population of 27, with 100.0% of residents being renters. This indicates a high concentration of potential tenants who are already accustomed to renting, which could translate into steady demand for rental properties. Despite the small population size, the complete reliance on rentals suggests a supportive environment for landlords.
In conclusion, while the high renter share in ZIP 23398 presents an opportunity for landlords, the lack of detailed market rent data and property acquisition metrics introduces significant uncertainty. Investors must conduct thorough research to understand the local rental market dynamics and property costs to determine if the area aligns with their investment criteria. The $910 FMR provides a baseline, but the actual market conditions will dictate whether this represents a viable rental income. Without comprehensive acquisition data, caution is advised when considering new investments in this ZIP code.
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.