Location: Northampton County, VA | Metro: Northampton County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 23413 in the Northampton County, VA metro area reveals key insights for potential real-estate investments, particularly under the Section 8 program.
Does the rent math work? The Fair Market Rent (FMR) set at $950 for the fiscal year 2026 is notably higher than the current market rent of $673, based on Census ACS data. This indicates that landlords can potentially earn a higher rental income through Section 8 than they would in the open market, making the rent math favorable for those willing to participate in the program.
Is acquisition affordable? Unfortunately, the data provided does not include specific figures for median home values, days on market (DOM), or the percentage of homes that had their prices cut. Without these details, it's challenging to assess the affordability of acquiring properties in this ZIP code. However, the lack of such data suggests either limited availability or a need for further investigation into local real estate trends.
Is there tenant demand? With a total population of 776, the ZIP code has a significant renter share of 49.6%. This means nearly half of the residents are potential tenants, indicating a reasonable demand for rental housing. For small-portfolio investors, this could translate into a steady stream of interested renters, especially if the properties meet the criteria for Section 8 tenancy.
In conclusion, the rent math in ZIP 23413 works favorably for Section 8 landlords, with the FMR exceeding the current market rent. Tenant demand appears to be present, given the substantial portion of residents who are renters. However, without specific data on property acquisition costs and market conditions, a comprehensive assessment of the overall investment climate remains incomplete. Despite this, the combination of favorable rent rates and a solid tenant base makes ZIP 23413 a promising location for Section 8 investments.
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.