Location: Pulaski County, VA | Metro: Pulaski County, VA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
U.S. Census Bureau data (2024)
The classification of ZIP code 24132 hinges significantly on the available data points, particularly the Federal Market Rent (FMR) which stands at $990 for fiscal year 2024. Given that market rent and home values are not specified, the analysis must focus on the rental dynamics and the population's inclination towards renting.
The FMR figure suggests a baseline for rental income expectations in this area. However, without comparative market rents, it's challenging to determine if this represents a high-yield opportunity. The lack of median home value data further complicates the yield assessment but does not preclude the potential for rental profitability.
Regarding stability, the ZIP code exhibits a relatively low percentage of renters at 15.6%. This indicates a smaller segment of the population actively seeking rental housing, which could imply less demand for rental properties and potentially higher vacancy rates. The absence of data on days-on-market (DOM) and median income makes it difficult to fully assess the economic health and rental market stability of the area.
Classification: ZIP 24132 appears to be a moderate-stability market, leaning slightly towards lower stability due to the limited rental population. It cannot be definitively classified as high-yield given the lack of comparative market data, but the $990 FMR suggests a reasonable yield for those who can secure tenants. The absence of robust data on home values and income levels leaves significant uncertainty about the overall investment climate, making it a candidate for further investigation before committing resources.
To make a more precise determination, additional research would be required to fill in the missing data points. Specifically, understanding the local market rents, days-on-market trends, and median income levels would provide a clearer picture of whether this is a high-yield/low-stability market or a steady-cashflow zone.
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.