Location: Halifax County, VA | Metro: Charlotte County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 23962 in Halifax County, VA reveals several key insights for landlords and small-portfolio investors.
The rent math does not work favorably here. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,110, which is higher than the actual market rent of $847 as reported by the Census ACS. This means that landlords would have to compete with market rates, which are below the federally determined FMR, making it challenging to achieve the higher rental income levels suggested by the FMR.
Acquisition of properties in this ZIP code is relatively affordable. With a median home value of $173,143, potential investors can purchase homes at a lower cost compared to many other areas. However, the lack of data on the number of days on market (DOM) and the percentage of homes needing price cuts indicates that while property values are low, the specifics regarding the ease of acquiring properties are unclear. This suggests caution when considering the timing and negotiation strategies for property purchases.
Tenant demand is moderate in ZIP 23962. The total population is 705, with 19.1% being renters. Given the small population size, the pool of potential tenants is limited, which could affect the ability to quickly fill vacancies and maintain steady cash flow.
In summary, ZIP 23962 presents an opportunity for investors looking to acquire properties at a low median home value. However, the discrepancy between the FMR and the actual market rent suggests that landlords will need to set competitive rates to attract tenants. The limited population size also implies that securing consistent tenant demand might be challenging. Therefore, while the area offers affordable entry points into real estate investment, the economic viability of rental operations must be carefully considered due to the constraints in rent pricing and tenant availability.
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.