Location: Buchanan County, VA | Metro: Buchanan County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The Section 8 market in ZIP code 24239, located in the Buchanan County, VA metro area, presents a unique opportunity for investors. The HUD Fair Market Rent (FMR) for the metro scope in fiscal year 2026 is set at $990. This figure represents the maximum amount that voucher holders can pay towards their housing costs.
Given that the market rent data for this specific area is currently unavailable, it's essential to rely on the HUD FMR as a benchmark for rental pricing. Voucher tenants in ZIP 24239 will cashflow at the FMR rate, meaning that landlords can expect to cover their expenses with the voucher amount without additional financial strain. However, due to the lack of precise market rent figures, it's difficult to determine if there is room for marginal increases or if higher rents are only feasible with premium units.
The median home value for ZIP 24239 is also not available, which makes deriving an exact rent-to-price ratio challenging. Nonetheless, the absence of this data does not significantly impact the investment decision, as the focus for Section 8 investors is typically on rental income rather than property appreciation. In areas where the market rent is closely aligned with the HUD FMR, the rent-to-price ratio tends to be favorable for long-term rental investments.
Regarding the days on market (DOM) and price cut share, both pieces of information are not available. These metrics usually help gauge the health of the local real estate market, but in the context of Section 8 investing, they are less critical unless there is a significant oversupply of rental properties. For voucher tenants, the stability and predictability of rental income are more important factors.
The strongest angle for investors in ZIP 24239 is likely to be cashflow. With the HUD FMR covering the majority of the tenant's housing costs, landlords can secure steady rental income without the need for frequent rent adjustments or dealing with non-paying tenants. This makes the area particularly attractive for those looking to add stable, low-risk rental properties to their portfolio.
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.