Location: Bland County, VA | Metro: Pulaski County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 24084 is profiled as having a significant tenant population, with 29.1% of residents being renters. This translates to approximately 3,085 renters in the area. The median household income is $63,146, indicating that while it is not a low-income area, there is still a notable portion of the population who may rely on rental assistance programs such as Section 8.
With a market rent of $869 per month, typical rents consume about 17.1% of the median household income. This is calculated by taking the monthly rent ($869) and dividing it by the annual median income ($63,146), then multiplying by 12 months. The Fair Market Rent (FMR) for the area is set at $910 per month for FY 2024, which is slightly higher than the current market rent. This suggests that landlords in ZIP 24084 may find themselves in a position where their properties are valued below the FMR, potentially making them more attractive to voucher holders.
The type of tenant profile a landlord should expect in ZIP 24084 includes individuals and families who may be utilizing Section 8 vouchers. These tenants will likely have a portion of their rent subsidized, with the remainder coming out of their own pockets. Given the income levels and the percentage of renters, landlords can anticipate a mix of tenants who are fully independent of government assistance and those who may require some level of support to afford housing. The demand for rental properties in this area is moderate due to the significant number of renters, but the income levels suggest that tenants receiving vouchers will need to carefully manage their finances to cover non-rent expenses.
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.