Location: Floyd County, VA | Metro: Blacksburg-Christiansburg-Radford, 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 | $1,100 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,350 |
| 5 Bedrooms | $2,726 |
| 6 Bedrooms | $3,053 |
| 7 Bedrooms | $3,297 |
| 8 Bedrooms | $3,462 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,390 | $247,262 | 0.56% | F |
| 3BR | $1,890 | $360,124 | 0.52% | F |
| 4BR | $2,350 | $484,738 | 0.48% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 24149 in Riner, VA, highlights several potential issues that could impact a landlord's financial stability. Tenant turnover is a significant concern, as the market rent stands at $643 compared to the Federal Market Rent (FMR) of $1890 for FY 2024. This discrepancy suggests that tenants might be more price-sensitive and less likely to stay long-term, leading to higher turnover rates. Vacancy exposure is another critical factor, though the Days on Market (DOM) data is currently unavailable, which makes it challenging to predict how quickly properties can be rented out. Given the typical home value of $344,510 and a median income of $69,753, deferred maintenance could pose a substantial risk, as lower-income households may struggle to cover the costs of maintaining their homes.
However, these risks must be weighed against the high proportion of renters in the area, with 12.8% of residents being renters. High renter density often translates into greater demand for housing vouchers, such as those offered through the Section 8 program. This increased demand can provide a stable stream of rental income for landlords willing to participate in the program.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 24149 is moderate.
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.