Location: Wythe County, VA | Metro: Pulaski County, VA HUD Metro FMR Area
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 | $810 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,330 | $203,266 | 0.65% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 24313 stands at $43,672, indicating a modest economic profile for the area. Given the lack of specific market rate data, it is challenging to definitively assess the affordability gap for renters. However, with the Fair Market Rent (FMR) set at $910 for the fiscal year 2024, we can infer that the rental market in this zip code is likely to be highly sensitive to price fluctuations.
The voucher payment standard of $910 reflects the government's assessment of what constitutes a reasonable rent cost for low-income households in this area. This figure is crucial for landlords considering whether to accept Housing Choice Vouchers, commonly known as Section 8 vouchers. It suggests that properties priced above this amount might struggle to attract tenants who rely on vouchers.
With only 0.0% of the 806 residents identified as renters, it is evident that the rental market in ZIP 24313 is exceptionally tight. This low percentage of renters could indicate a predominantly owner-occupied community, which inherently limits the pool of potential tenants. Consequently, landlords must be particularly strategic in pricing their rentals to remain competitive and attractive to both voucher holders and those paying out-of-pocket.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a viable strategy to secure tenants in an area where rental demand is limited. The $910 voucher payment aligns closely with the financial capabilities of the local population, making it a reliable source of income. For those considering higher market rates, they should be prepared for reduced occupancy due to the limited number of renters and the overall economic context of the zip code.
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.