Location: Brunswick County, VA | Metro: Brunswick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 23821 presents a dynamic rental market that is currently experiencing a balance between supply and demand, though there are indications that it may be shifting towards greater demand. With a Fair Market Rent (FMR) of $990 for the fiscal year 2026, set by the metropolitan area guidelines, and a market rent of $709 according to the Census American Community Survey (ACS), it's clear that the rental prices are below the FMR threshold. This suggests that landlords have an opportunity to increase rents closer to the FMR without losing tenants, indicating that demand might be rising relative to supply.
The median home value in ZIP 23821 is $134,158. This figure is relatively low, which can be interpreted as a sign that homeownership is accessible to many residents, but also that there may be a significant portion of the population unable to afford home purchases, thereby relying on rentals. The 26.3% renter share supports this interpretation, showing that nearly one-quarter of the households are renters. A higher renter share often implies long-term housing pressure, as these individuals are more sensitive to changes in rental rates and may struggle to transition into homeownership due to financial constraints.
The lack of data on price-cut share and days on market (DOM) means we cannot make precise claims about recent trends in the rental market. However, the discrepancy between the FMR and the current market rent, along with the low median home value, suggests that there could be upward pressure on rental prices in the future. Landlords and small-portfolio investors should monitor local economic conditions and housing trends closely to anticipate potential shifts in the market dynamics.
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.