Location: Roanoke, VA | Metro: Roanoke, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
1040 is the Fair Market Rent (FMR) for ZIP 24010 in fiscal year 2024. This figure represents the baseline for rental costs in the area, indicating that landlords should aim to set rents around this amount to remain competitive and viable under government programs.
N/A is the market rent for ZIP 24010, suggesting that there is limited publicly available data on current market rents. This could indicate either a lack of recent rental listings or a smaller rental market compared to homeownership.
N/A is also the median home value, pointing to a lack of comprehensive data on home values in the area. This absence of information makes it harder to assess the overall health and growth potential of the real estate market in ZIP 24010.
N/A is the percentage of renters in the area, which means that without this figure, it's difficult to gauge the size of the rental market relative to the total population. Understanding the renter share is crucial for landlords looking to enter or expand in this market.
N/A is the median income for ZIP 24010, highlighting another gap in the data. Knowing the median income helps in understanding the affordability of housing and the potential demand for rental properties.
N/A is the average days on market (DOM) for properties in ZIP 24010, which suggests that the data on how quickly homes sell is not readily available. This metric is important for both buyers and sellers to understand the pace of the market.
N/A is the percentage of homes that had their prices reduced, indicating a lack of data on the frequency of price adjustments. This information would be useful for understanding how flexible sellers are in the face of changing market conditions.
In ZIP 24010, the Fair Market Rent stands at $1040, a key figure for landlords participating in Section 8 programs. This rent level ensures compliance with HUD guidelines and maximizes the potential tenant pool eligible for assistance.
The verdict on Section 8 in ZIP 24010: Given the lack of specific market data, the Fair Market Rent at $1040 offers a reliable benchmark for landlords to set competitive and compliant rental prices.
Data Sources: FMR data from HUD (2027).
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.