Location: Blacksburg-Christiansburg-Radford, VA | Metro: Blacksburg-Christiansburg-Radford, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
The analysis of ZIP code 24063, located in Blacksburg, VA, reveals a unique position on both the yield and stability axes. With a Fair Market Rent (FMR) of $1290 for FY 2024, the rental market appears to be somewhat competitive. At the time of this analysis, there were 911 rental properties listed on Trulia, indicating a robust demand for rentals. However, the lack of specific data on median home values and median renter income makes it challenging to provide a precise classification.
Despite these limitations, we can infer that the area leans towards a steady-cashflow zone rather than a high-yield/low-stability market. The FMR figure suggests that rental yields are moderate, given the absence of comparable market rates. Stability indicators such as the percentage of renters and days on market (DOM) are unavailable, but the presence of a significant number of rental listings on Trulia implies a stable rental environment.
To further clarify, let's consider the available data points:
While the FMR is a reliable indicator, the absence of other critical metrics such as median home value and median renter income complicates a comprehensive assessment. Nonetheless, the consistent demand for rental properties suggests that landlords and small-portfolio investors can expect a relatively stable cash flow from their investments in ZIP 24063.
In conclusion, ZIP 24063 is best classified as a steady-cashflow zone, where the focus is on maintaining a reliable income stream rather than seeking high yields with increased risk. The specific figure driving this classification is the FMR of $1290, which aligns with moderate rental returns.
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.