Location: Lee County, VA | Metro: Lee County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 24265, located within the Lee County, VA metro area, reveals several key points that are crucial for landlords and small-portfolio investors.
The Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for the Lee County, VA metro area for fiscal year 2026 is $970. This figure represents the maximum amount that voucher holders can pay towards rent, based on the HUD's assessment of the local rental market conditions. However, it's important to note that the current market rent for ZIP 24265 is not available, which means we must rely on the HUD FMR to gauge the potential performance of Section 8 properties in this area.
Voucher tenants in ZIP 24265 will likely cashflow at the FMR rate of $970, assuming that the market rent does not significantly exceed this amount. The lack of specific market rent data makes it challenging to provide a precise comparison, but the general trend in similar rural areas suggests that cashflow is achievable without relying solely on premium units.
The median home value for ZIP 24265 is also not available, which complicates deriving an exact rent-to-price ratio. Nonetheless, this absence underscores the importance of focusing on rental income rather than speculative home value appreciation when considering investment opportunities in this ZIP code.
In terms of days on market (DOM) and the percentage of price cuts, both metrics are currently unavailable for ZIP 24265. These factors would typically influence the decision between renting and buying, but their unavailability means we cannot use them to assess the local real estate market's health or volatility.
The strongest investor angle in ZIP 24265 is cashflow. Given the stable nature of government-subsidized rents and the likelihood that the HUD FMR aligns closely with market rates, investors can expect reliable and predictable income streams from Section 8 properties in this area.
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.