Location: Henry County-Martinsville city, VA | Metro: Franklin County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
The classification of ZIP code 24112 on the axes of yield and stability reveals a market that leans towards steady cash flow rather than being a high-yield/low-stability flip-style market. This conclusion is based on the following data points:
Yield Analysis: The Fair Market Rent (FMR) for ZIP 24112 in fiscal year 2024 is set at $910, which is slightly above the market rate of $900. However, the average home value stands at $133,379, indicating a relatively low-cost entry point for investment properties. The FMR provides a benchmark for rental pricing, ensuring that landlords can charge rent reflective of the area's affordability without overpricing. This slight premium over the market rate suggests a modest yield potential, but not the kind that would characterize it as a high-yield zone.
Stability Analysis: Stability in this context is measured by the percentage of renters, days on market (DOM), and median household income. With 33.0% of residents being renters, the demand for rental housing is significant but not overwhelming, which supports a stable rental market. The DOM of 64 days indicates a reasonable time frame for property turnover, neither too long nor too short. Lastly, the median household income of $48,770 suggests a middle-income bracket, providing tenants with the financial capacity to meet their rent obligations consistently. These factors collectively contribute to a stable environment for property investments.
Given these specifics, ZIP 24112 appears to be a steady-cashflow zone. The slightly higher FMR compared to the market rate offers a small margin for profit, while the moderate renter population and reasonable DOM imply a balanced and predictable market. The median income level supports tenant reliability, further reinforcing the stability of the rental market.
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.