Location: Lynchburg, VA | Metro: Lynchburg, VA MSA
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 | $930 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $930 | $178,449 | 0.52% | F |
| 2BR | $1,070 | $410,962 | 0.26% | F |
| 3BR | $1,480 | $542,426 | 0.27% | F |
| 4BR | $1,580 | $900,301 | 0.18% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $1030 for ZIP 24104 in Huddleston, VA, for fiscal year 2024, landlords can expect a clear guideline on rental pricing. The Census ACS reports a market rent of $883, indicating a below-average cost compared to the FMR, which suggests opportunities for increasing rents while still remaining competitive. At a median home value of $518,447, this area presents a stable investment environment for those looking to enter the real estate market. The renter share stands at 6.9%, reflecting a modest but steady demand for rental properties. With a median income of $65,738, residents have sufficient financial capacity to cover the $1030 FMR without significant strain, supporting the potential for higher rental rates. The day DOM figure is listed as N/A, suggesting either limited data or a rapidly moving market where properties are leased quickly. The price-cut share of 0.2% indicates that very few landlords are having to reduce their asking prices to attract tenants, further confirming the strength of the rental market in this area.
Investors should note that the discrepancy between the FMR and the actual market rent provides a window for increasing rental prices without alienating potential tenants. This is especially true given the robust median income levels that can support higher rents. Additionally, the low price-cut share signals a strong tenant market, reducing the risk of prolonged vacancies. In conclusion, ZIP 24104 is a favorable location for Section 8 investments, with a solid balance between affordability and property values. Verdict: Invest.
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.