Location: Blacksburg-Christiansburg-Radford, VA | Metro: Blacksburg-Christiansburg-Radford, VA HUD Metro 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 | $1,020 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $232,699 | 0.56% | F |
| 3BR | $1,740 | $304,418 | 0.57% | F |
| 4BR | $2,000 | $400,773 | 0.5% | F |
| 5BR | $2,320 | $468,905 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 24073, located in Christiansburg, VA, within the Blacksburg-Christiansburg-Radford, VA HUD Metro FMR Area, serves as a strong cash-flow anchor for any Section 8 portfolio strategy. This conclusion is based on the significant spread between the Fair Market Rent (FMR) and the market rent, which stands at $1160 versus $1845 for the fiscal year 2024. The difference of $685 per month between these two figures means that landlords can expect a consistent, reliable cash flow from tenants participating in the Section 8 program.
In addition to the favorable rental dynamics, the median home value in ZIP 24073 is $306,033, indicating that the area is relatively affordable compared to other metropolitan regions. This affordability is further supported by the low 0.1% price-cut share and the modest 30-day days-on-market (DOM) average, suggesting that property values are stable and there is little pressure to reduce asking prices to attract buyers. Therefore, while appreciation might be slow, the risk of significant value depreciation is also minimized, making it an ideal location for long-term investment focused on steady cash flow.
The renter share in ZIP 24073 is 34.7%, and the median household income is $76,800. These figures indicate a healthy demand for rental properties and a population that is likely to rely on government assistance programs such as Section 8. Given the high renter share and the moderate income levels, there is a robust tenant pool that can support consistent occupancy rates and thus provide dependable cash flow to landlords and small-portfolio investors.
To summarize, ZIP 24073 should be considered a cash-flow anchor within a Section 8 portfolio strategy due to the substantial gap between the FMR and market rents, stable property values, and a significant portion of renters who can benefit from the housing voucher program. This makes it an attractive option for investors seeking a predictable revenue stream without the volatility associated with rapidly appreciating markets.
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.