Location: Lee County, VA | Metro: Lee County, VA
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 | $720 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $114,713 | 0.82% | C |
| 3BR | $1,290 | $160,985 | 0.8% | C |
U.S. Census Bureau data (2024)
The ZIP code 24248, located in Ewing, VA, has a population of 2,207 individuals. With 22.2% of residents being renters, it indicates that this area is not heavily dominated by renters. The median household income stands at $78,281, which provides insight into the economic status of the community.
The typical market rent in this area is $749. This figure represents approximately 9.5% of the median household income, calculated by dividing the rent by the income and multiplying by 100. This percentage suggests that rent is relatively affordable for most households, leaving a significant portion of income available for other expenses.
Comparing the market rent to the Fair Market Rent (FMR) of $910 for FY 2026, we can see that the actual rent is lower than the FMR, indicating that the rental market in Ewing, VA is slightly below the metro average. The FMR is set by the U.S. Department of Housing and Urban Development (HUD) to reflect the cost of housing in a given area, and landlords should be aware that their rents should generally align with these figures to remain competitive and attractive to potential tenants.
In terms of tenant profiles, landlords in Ewing, VA can expect a mix of individuals and families who are likely to have stable employment due to the median income level. However, the percentage of renters and the availability of voucher holders might be limited compared to areas with higher renter populations. Landlords should consider that while some tenants may use Section 8 vouchers, the overall demand for such assistance is not high in this ZIP code.
To conclude, ZIP 24248 is not a renter-heavy area with deep voucher demand. Instead, it is an area where homeownership is more prevalent, and landlords should prepare for a tenant pool that is primarily composed of individuals and families capable of paying market rates without extensive reliance on housing vouchers.
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.