Location: Surry County, VA | Metro: Surry County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,240 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
U.S. Census Bureau data (2024)
The ZIP code 23846 stands out due to its unique blend of demographic and economic characteristics. With only 709 residents, it is a small community where 11.7% of the population rents their homes. The median income in this area is relatively high at $94,441, while the median home value is set at $271,798, indicating a generally affluent neighborhood.
In terms of Section 8 housing, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is established at $1,320. However, there is no available data on the local rental market prices, which suggests that landlords may need to rely on the FMR as a guideline for setting rental rates. This could be advantageous for landlords who wish to ensure they are charging competitive rates without overpricing their properties.
The data signature for ZIP 23846 reads as stable. The high median income and home values suggest a consistent economic environment, which is favorable for long-term investment. Additionally, the low percentage of renters indicates a preference for homeownership, but the presence of Section 8 vouchers provides an opportunity for landlords to serve those who might benefit from government assistance.
Given these factors, landlords and small-portfolio investors can expect a steady demand for rental properties that meet the FMR standards, though the overall market may be somewhat limited due to the size of the ZIP code and the general inclination towards owning rather than renting.
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.