Location: Franklin County, VA | Metro: Franklin County, 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 | $830 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $950 | $222,607 | 0.43% | F |
| 3BR | $1,320 | $316,348 | 0.42% | F |
U.S. Census Bureau data (2024)
The real estate landscape in Gladehill, Virginia (ZIP 24092), is characterized by a median home value of $301,960. Despite the lack of specific percentages regarding listings reductions and median days on market (DOM), the current median home value suggests a stable market condition. Landlords and small-portfolio investors should note that the absence of significant price reductions and a steady DOM indicate a resilient housing market, which supports maintaining pricing power over the next 12-24 months.
On the rental side, the Fair Market Rent (FMR) for ZIP 24092 in fiscal year 2024 is set at $930, while the actual market rent, according to the Census ACS, is approximately $715. This discrepancy between FMR and market rent signals an opportunity for landlords to potentially increase rents, aligning them closer to the FMR without losing tenants, assuming the local economy can support such increases.
For long-term investors, the appreciation thesis in Gladehill, VA, is based on the expectation that the area will continue to see moderate growth, driven by factors such as job stability and the region's attractiveness for living. However, the exact rate of appreciation is difficult to pinpoint without historical trends and future projections. The setup implies a conservative appreciation strategy, where properties are expected to retain their value and possibly grow, but at a measured pace that reflects the broader economic conditions and local market dynamics.
A key consideration for investors is the balance between property values and rental income. With a median home value of $301,960 and a potential gap between FMR and market rent, there is room for adjustment in rental pricing to reflect the true value of the properties. This alignment could help ensure that rental income keeps pace with property values, providing a sustainable investment environment.
In summary, the current median home value and the observed market conditions suggest a robust position for landlords and small-portfolio investors in Gladehill, VA. The setup supports maintaining pricing power and offers opportunities to adjust rental rates in line with FMR, thereby enhancing overall returns on investment. Long-term appreciation is likely to be modest, reflecting the stable nature of the local market.
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.