Location: Brunswick County, VA | Metro: Brunswick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 23889, located in Brunswick County, VA metro, reveals several key points for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area is set at $960 for fiscal year 2026. However, due to the lack of specific market rent data, it's challenging to directly compare these figures. Assuming the FMR closely mirrors the actual market conditions, landlords can expect to charge around $960 per month for a unit that qualifies under the Section 8 program.
Regarding the affordability of property acquisition, the median home value in ZIP 23889 stands at $144,065. This figure suggests that acquiring a property in this area is relatively affordable compared to other markets, especially considering the median home values in larger metropolitan areas. With no specific data on Days on Market (DOM) or the percentage of homes that experience price cuts, it's difficult to gauge the exact speed and ease of selling properties. Nonetheless, the lower median home value implies a potentially less competitive market, which could be advantageous for investors looking to purchase real estate.
When it comes to tenant demand, the ZIP code has a population of 565, with 14.8% being renters. While the overall population is small, the percentage of renters indicates a steady demand for rental housing. This statistic is crucial for landlords who want to ensure their investment will have a consistent stream of potential tenants.
Based on the available data, ZIP 23889 presents a viable opportunity for real estate investment under the Section 8 program. The rent math is straightforward with a clear FMR benchmark at $960, making it easy to set realistic expectations. The median home value of $144,065 ensures that acquisition costs remain low, providing a good entry point for new investors. Although the total population is modest, the 14.8% renter share suggests sufficient tenant demand to fill vacancies. Overall, the combination of manageable rents, affordable acquisitions, and a stable tenant base makes this ZIP code an attractive option for those interested in Section 8 investments.
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.