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 | $830 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $156,933 | 0.68% | D |
| 3BR | $1,350 | $230,427 | 0.59% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 24258, which includes Bristol, VA, is set at $910 for fiscal year 2024. This figure represents the maximum amount the U.S. Department of Housing and Urban Development (HUD) will pay to cover a tenant's portion of rent under the Section 8 program. It does not mean that you can charge $910 to tenants; it simply indicates the reimbursement limit for landlords participating in the program.
To put this into perspective, the local median rent in ZIP 24258 is currently not available, but the FMR serves as a guideline for what HUD considers a reasonable rent for a modest home in the area. The 7.1% renter share suggests that about 7 out of every 100 residents in Bristol, VA, are likely to be interested in Section 8 housing, indicating a steady demand for subsidized rentals.
If you're looking to acquire a property in this area for a Section 8 rental, the median home value is approximately $212,890. This means that the average cost of buying a home suitable for a Section 8 tenant would be around this amount. Given the FMR and the renter share, you can expect to receive a monthly subsidy close to $910, which should help cover a significant portion of your mortgage and maintenance costs if you purchase a property at the median price.
Before making your investment decision, it is crucial to verify that the property meets all the necessary requirements for the Section 8 program. These include passing a thorough inspection to ensure it is up to the housing quality standards set by HUD. Failure to meet these standards can result in non-payment or penalties, so ensuring compliance is key to a successful Section 8 rental venture.
In summary, the $910 FMR for ZIP 24258 provides a clear benchmark for the financial support you can expect from HUD. With an estimated 7.1% of the population being potential renters through Section 8, and a median home value of $212,890, you have a solid basis for evaluating the feasibility of your investment. However, the final step is confirming that your chosen property adheres to HUD’s housing quality standards, ensuring you avoid any issues down the line.
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.