Location: Patrick County, VA | Metro: Patrick County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
0.0% of residents in ZIP code 24082 are renters, indicating a predominantly owner-occupied market. This statistic aligns with the N/A median home value, suggesting that detailed housing price data is not available for this area. However, the $960 Fair Market Rent (FMR) for the metro area as of fiscal year 2026 provides a benchmark for rental pricing. Given the $56,319 median income, landlords can expect a relatively stable tenant pool with a moderate ability to pay rent. The lack of data on days on market (DOM) and the percentage of homes that have been price-cut suggests a steady market without significant fluctuations in property values. In conclusion, while the rental market is minimal with only 0.0% of the population renting, the $960 FMR offers a clear guideline for setting competitive rental rates. For landlords and small-portfolio investors, the low renter share means less competition but also a smaller potential tenant base. The median income supports the viability of renting at FMR levels. Section 8 verdict: Suitable for small-scale investment with careful tenant selection.
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.