Location: Prince Edward County, VA | Metro: Charlotte County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 23934, located within the Prince Edward County, VA metro area, presents a unique profile when compared to other ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 23934 is set at $1,110 for fiscal year 2026, which is a key figure for understanding the rental market dynamics in this area.
While the market rent for ZIP 23934 is not available, we can infer that it likely aligns closely with the FMR, given the absence of significant market anomalies. The median home value in this ZIP is $214,893, which suggests that property ownership is accessible but not inexpensive. This value is indicative of a middle-class residential area where homeownership is a realistic option for many residents.
The renter share in ZIP 23934 stands at 3.3%. This figure is notably low, suggesting that the majority of residents in this area are homeowners rather than renters. However, it's important to note that the FMR is higher than what might be expected for a ZIP with such a low renter share, indicating that the rental market, though small, could still offer opportunities for landlords and small-portfolio investors.
Within the context of Prince Edward County, VA, ZIP 23934 appears to be a mid-tier neighborhood. Its FMR of $1,110 places it in a position where it is neither the most affordable nor the most expensive area within the county. The median home value of $214,893 also supports this classification, as it suggests a balance between affordability and quality of living.
The low renter share does not necessarily indicate a Section 8 sweet spot, as it is typically associated with areas having a higher proportion of renters. However, the combination of a defined FMR and a relatively low home value compared to other ZIPs in the county could suggest that 23934 offers some value for those seeking properties under Section 8. For landlords and investors looking to enter the rental market in this area, the FMR provides a benchmark for setting rental prices that comply with federal guidelines.
To conclude, ZIP 23934 represents a balanced opportunity within the Prince Edward County, VA metro. It is neither a value pocket nor a premium sub-market, but rather a mid-tier neighborhood where both homeownership and rental investments can find a place. The specific figures provided indicate a stable, yet modest, market environment suitable for cautious investment strategies.
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.