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 | $770 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $124,498 | 0.89% | C |
| 3BR | $1,400 | $196,884 | 0.71% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 24290, located in Weber City, Virginia, reveals a market that leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. This classification is driven by specific figures from the data provided.
First, let's examine the yield aspect. The Fair Market Rent (FMR) for the fiscal year 2024 in ZIP 24290 is set at $910, while the market rent stands at $938. The median home value in this area is $168,372. Given these numbers, it is evident that the rental yields are modest. The FMR and market rent are nearly identical, indicating little room for significant rent increases above the FMR without potentially losing tenants to other properties. Moreover, the relatively low median home value suggests that the potential for high returns through property flipping is limited, as the profit margins would be constrained by the lower overall property values in the area.
Moving on to stability, we can observe several indicators that point towards a stable market. The percentage of renters in the area is 31.9%, which is not exceptionally high but provides a reasonable tenant pool. While the number of days on market (DOM) is not available, the average household income in ZIP 24290 is $60,923. This figure suggests that there is a decent level of financial stability among residents, which typically translates into a lower risk of default on rent payments. Landlords can expect steady cash flow from tenants who have the means to pay their rent consistently.
To summarize, ZIP 24290 is best classified as a steady-cashflow zone. The close alignment between FMR and market rents indicates a balanced yield scenario, and the moderate renter population combined with a solid average income supports the notion of stability. Investors should focus on acquiring properties that offer a reliable income stream rather than those that promise quick flips for high returns.
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.