Location: Brunswick County, VA | Metro: Brunswick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The ZIP code 23876 is situated in a predominantly owner-occupied neighborhood, with a total population of 252 residents. Notably, there are no reported renters in this area, which suggests a strong preference for homeownership among the local populace. The median household income in this ZIP code stands at $55,469, indicating a middle-class community. Furthermore, the median home value is $161,323, reflecting an affordable housing market.
Despite the lack of renters, it's important to consider the rental economics for potential Section 8 investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,090. However, the market rent for ZIP 23876 is not available, likely due to the absence of rental properties in the area. This presents a unique challenge for investors looking to enter the rental market in this ZIP code, as there is limited historical data to guide expectations.
Given the characteristics of ZIP 23876, it would be particularly challenging for a hands-off voucher operator. The scarcity of rental units means that any new rental property would need to be marketed effectively to attract tenants eligible for Section 8 vouchers. Moreover, the low population density and the absence of renters suggest that demand might be limited. On the other hand, a hands-on value-add buyer could potentially find opportunities in converting underutilized properties into rental units, though this would require significant effort in both acquisition and renovation.
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.