Location: Kingsport-Bristol, TN | Metro: Kingsport-Bristol, TN-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 | $750 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $840 | $155,436 | 0.54% | F |
| 2BR | $1,080 | $193,080 | 0.56% | F |
| 3BR | $1,360 | $274,321 | 0.5% | F |
| 4BR | $1,450 | $378,008 | 0.38% | F |
| 5BR | $1,682 | $493,335 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 24210, located in Abingdon, VA, represents a moderately renter-heavy area with significant voucher demand. With a population of 16,814, approximately 33.7% of residents are renters, indicating a substantial portion of the community relies on rental housing. This demographic leans towards a higher demand for rental properties, especially those that accept Section 8 vouchers.
The median household income in Abingdon is $62,734, which provides a benchmark for assessing the affordability of the typical market rent of $1,600. At this rate, the rent constitutes roughly 25.5% of the median household income. This percentage is notable because it suggests that even without subsidies, the rent is a significant expense for many households.
To further contextualize, the Fair Market Rent (FMR) for the area is set at $940 per month for FY 2024. This means that properties renting for $1,600 are nearly twice the FMR, highlighting a gap between the market rent and the subsidized rent rates. The discrepancy indicates that while some tenants may find the market rent challenging, there is still a considerable demand for affordable housing options.
A landlord in Abingdon can expect a diverse tenant profile, including families and individuals who rely on Section 8 vouchers to manage their housing costs. Given the FMR and the market rent, tenants will likely require substantial financial assistance to afford the average rental property. Therefore, landlords should prepare to work with tenants who have a lower income bracket, often below the median household income, and who benefit significantly from voucher programs to cover their living expenses.
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.