Location: Blacksburg-Christiansburg-Radford, VA | Metro: Blacksburg-Christiansburg-Radford, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,140 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
U.S. Census Bureau data (2024)
The ZIP code 24061, located in a county with a population of 9,202 residents, stands out due to the lack of detailed demographic data such as the percentage of residents renting, median income, and median home value. This scarcity of information suggests that the area may be less studied or documented compared to other regions, which can make it challenging for investors to gauge the typical market dynamics.
Despite these data gaps, the voucher economics provide a clearer picture. The Fair Market Rent (FMR) for ZIP 24061 in fiscal year 2024 is set at $1290. This figure is crucial for landlords and small-portfolio investors who rely on Section 8 vouchers, as it dictates the maximum rent that can be charged for subsidized units. However, without a comparison to the local market rent, it's difficult to assess how competitive this rate is. Typically, FMRs are used to ensure affordability and are often lower than the actual market rates, but the absence of market rent data for this ZIP code means we cannot directly compare the two.
The data signature for ZIP 24061 reads as transitional. With limited information on rental trends and housing values, it's indicative of an area that may be evolving or where recent changes have not yet been fully captured in the available datasets. For investors, this could mean opportunities in a developing market, but also requires caution and thorough research into local real estate conditions to understand the potential risks and rewards.
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.