Location: Lee County, VA | Metro: Lee County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
ZIP code 24281, located in Rose Hill, VA within the Lee County metro area, presents a unique snapshot when compared against typical ZIP codes in Lee County. The Fair Market Rent (FMR) for ZIP 24281 is set at $910 for fiscal year 2026, aligning closely with the average market rent of $905. This indicates that the rental prices in Rose Hill are on par with the broader county standards, suggesting a mid-tier neighborhood status.
However, the median home value in ZIP 24281 stands at $122,463, which is notably lower than the typical home values found in other parts of Lee County. This discrepancy between rental costs and home values could be indicative of a value pocket within the metro, where properties are relatively affordable but still command competitive rental rates.
A further distinguishing feature is the 25.3% share of renters in ZIP 24281. This percentage is higher than many ZIP codes in Lee County, pointing towards a significant portion of the population relying on rental housing. When combined with the below-average home values, it suggests that ZIP 24281 could be an attractive location for landlords and small-portfolio investors interested in the Section 8 program. The high renter share paired with lower home values often signals a sweet spot for government-subsidized housing opportunities.
To summarize, ZIP 24281 appears to be a mid-tier neighborhood in terms of rental pricing but exhibits characteristics of a value pocket due to its lower home values. The high renter share makes it particularly appealing for those considering investment in the Section 8 housing market.
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.