Location: Southampton County-Franklin city, VA | Metro: Richmond, VA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $148,844 | 0.63% | D |
| 3BR | $1,270 | $245,134 | 0.52% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 23829 (Capron, VA) hinges on the balance between yield and stability. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1140, while the current market rent stands at $725. This disparity suggests a potential for higher rental yields if properties can be leased at the FMR rate. However, the median home value of $232,179 indicates that property acquisition costs are relatively high, which could temper the overall yield.
On the stability axis, Capron has a rental market where 34.7% of residents are renters. This percentage is somewhat low, which might indicate limited demand for rental properties. The lack of available data on days on market (DOM) makes it difficult to assess how quickly properties are rented out, but the median household income of $88,800 suggests that tenants may have stable financial situations, potentially leading to fewer defaults and more consistent cash flows.
Given these factors, ZIP 23829 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The relatively low percentage of renters and the higher median income point toward a more stable tenant base. Although the potential for higher yields exists due to the gap between FMR and market rents, the high median home value and moderate renter population suggest that the market is less volatile and more suited for long-term investments focused on consistent returns rather than quick flips.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.