Location: Bland County, VA | Metro: Giles 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 | $840 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $149,089 | 0.72% | D |
| 3BR | $1,270 | $231,815 | 0.55% | F |
| 4BR | $1,660 | $294,714 | 0.56% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 24134, Pearisburg, VA, for fiscal year 2024 is set at $910. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; rather, it's the benchmark used to determine eligibility and payment standards.
In comparison, the average rent in Pearisburg based on Census American Community Survey (ACS) data is $827. This suggests that the FMR is slightly higher than the typical market rate, which could be advantageous if you're looking to cover your costs and potentially earn a bit more.
With 27.0% of residents being renters, there is a steady demand for rental properties in Pearisburg. This percentage indicates that nearly one in four people in the area rely on renting, making it a viable market for new rentals.
If you're considering purchasing a property to enter into the Section 8 program, the median home value in Pearisburg is around $213,285. This is the typical price you might expect to pay for an existing property in the area, though actual costs can vary depending on the condition and location of the property.
Before finalizing your decision to participate in Section 8, ensure that the property meets all the necessary inspection criteria set by the Housing Authority. These inspections verify that the property is safe, decent, and sanitary for tenants, and they are a prerequisite for approval into the program.
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.