Location: Pittsylvania County-Danville city, VA | Metro: Pittsylvania County-Danville city, VA HUD Nonmetro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $140,353 | 0.78% | D |
| 3BR | $1,500 | $207,357 | 0.72% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 24069, which includes Cascade, VA, is set at $1,090 for the metro area fiscal year 2026. This figure represents the payment standard for Section 8 housing assistance and does not reflect the actual rent you can charge tenants. It's the maximum amount the government will pay toward a tenant's rent under the program.
In comparison, the average rent in Cascade, VA, as per recent Census data, stands at $959. This indicates that the FMR is slightly higher than the local average, providing a buffer for landlords who participate in the Section 8 program.
The demand for rentals in this area is robust, with 30.1% of residents being renters. This high percentage suggests there is a steady market for rental properties, particularly those that qualify for Section 8 assistance.
If you're looking to acquire a property in Cascade, VA, for your first Section 8 rental, be prepared for an initial investment. The median home value in the area is around $147,511, which is the price point you should consider when purchasing a property.
Before finalizing any decision, it's crucial to verify that the property meets all local housing quality standards required by the Section 8 program. These standards ensure that the living conditions are safe and habitable, and failure to meet these can result in penalties or disqualification from the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.