Location: Greensville County-Emporia city, VA | Metro: Brunswick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,390 |
| 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)
421,638 The median home value in ZIP code 23887 indicates a relatively stable housing market. 2.1% However, the renter share is quite low, suggesting a smaller pool of potential tenants. 77,614 The median income figure shows that residents have a moderate level of financial stability, which could translate into reliable rental payments. 1,050 For landlords considering Section 8 tenants, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,050, providing a benchmark for rental pricing. N/A Although there is no data on the average days on market (DOM) or the percentage of listings that required price cuts, these gaps highlight areas where further research might be beneficial before making investment decisions. N/A% The lack of information on price-cut shares also points to a possibly tight-knit or less competitive real estate market. 1,050 Given the FMR, properties priced around this amount would be attractive to Section 8 tenants, aligning well with the program's payment standards.
421,638 With a median home value above $421,638, it's clear that the housing stock in this area is generally of higher quality, which could appeal to a certain demographic of Section 8 participants seeking better living conditions. 77,614 The median income of $77,614 suggests that residents have the capacity to contribute a significant portion towards their rent, reducing the financial burden on landlords. 1,050 At an FMR of $1,050, landlords can expect to receive fair compensation through the Section 8 program, ensuring steady cash flow without the risk of overpricing the property.
2.1% Despite the low renter share, the presence of a Section 8 program can attract a consistent tenant base, mitigating some of the risks associated with a volatile rental market. 1,050 Landlords should aim to keep their rents close to the FMR to maximize their chances of finding qualified tenants. 421,638 A median home value of over $421,638 implies that there is a mix of affordable and luxury housing options, which can cater to different levels of Section 8 vouchers.
77,614 The median income of $77,614 provides insight into the economic status of the area, indicating that while it is not high-income, it is not low-income either, which can be advantageous for landlords looking to balance affordability with reliability. 1,050 Therefore, setting rents at or slightly below the $1,050 FMR can help landlords attract and retain tenants effectively.
Verdict: Suitable for Section 8 landlords and small-portfolio investors due to the alignment between median incomes and FMRs, despite a lower-than-average renter share.
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.