Location: Brunswick County, VA | Metro: Brunswick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The ZIP code 23843 stands as a market in motion, characterized by specific dynamics that offer insights into the balance between supply and demand. With a Fair Market Rent (FMR) set at $930 for the fiscal year 2026, it suggests a relatively stable rental market, though the absence of recent market rent data leaves some ambiguity regarding current pricing pressures.
The median home value of $148,150 indicates a modest property valuation area, which could imply that homeownership is accessible to a broader range of income levels. However, the lack of data on the percentage of price cuts and days on market (DOM) makes it challenging to definitively state whether supply currently outpaces demand or vice versa. Typically, if there were high DOMs or a significant share of price cuts, it would suggest an oversupply situation, whereas lower DOMs and fewer price cuts would indicate strong demand.
A notable statistic is the 10.4% renter share, which points to a predominantly owner-occupied community. This low percentage of renters can be indicative of several factors: first, it might reflect a preference for homeownership among residents, possibly due to the affordability of properties or the stability they provide. Second, it suggests that long-term housing pressure in the form of rental demand may not be as pronounced as in areas with higher renter shares. However, this does not preclude the possibility of future shifts in housing dynamics, especially if economic conditions change or if there is an influx of new residents who prefer renting.
In summary, ZIP 23843 presents itself as a modestly valued, owner-occupied market with a stable rental baseline. The dynamics of supply and demand remain unclear without additional data on recent rental prices and sales trends. Nonetheless, the low renter share provides a glimpse into the community's housing preferences, which could influence future investment strategies and landlord considerations.
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.