Location: Pulaski County, VA | Metro: Pulaski County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
U.S. Census Bureau data (2024)
The ZIP code 24058 stands as a market in motion, with clear indicators pointing towards the dynamics at play. The Fair Market Rent (FMR) for the area is set at $1040 for the fiscal year 2024, which serves as a benchmark for rental prices in the locality. While specific data on market rent, price-cut share, days on market (DOM), and median home value are currently unavailable, we can still infer significant insights from the available snapshot.
The 6.9% renter share suggests a notable but not overwhelming presence of renters in the community. This figure implies that while the majority of residents own their homes, there is a consistent segment of the population relying on rentals. Such a composition often indicates a stable long-term housing pressure, as it reflects a steady demand for rental properties without signaling an extreme shortage or surplus of housing units.
In the absence of detailed market rent data, the FMR provides a valuable reference point for landlords and small-portfolio investors. It is essential to align rental prices closely with this figure to remain competitive and attractive to potential tenants. The unavailability of market rent data might suggest a less active rental market, or it could simply be a reflection of limited reporting. Either way, it's crucial to keep an eye on local trends and adjust accordingly.
The lack of information regarding price-cut share and DOM can make it challenging to assess whether supply outpaces demand or vice versa. However, given the stable renter share, it's reasonable to assume that the market is balanced, neither overly saturated with rental properties nor experiencing a severe shortage. Landlords should focus on maintaining high-quality properties that meet the needs of the local tenant base to ensure occupancy rates.
In conclusion, ZIP 24058 presents itself as a market with a discernible yet moderate demand for rental properties. The $1040 FMR serves as a critical anchor for setting rental prices, while the 6.9% renter share points to a stable, long-term housing pressure. For landlords and small-portfolio investors, understanding these dynamics is key to navigating the local real estate landscape effectively.
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.