Location: Tazewell County, VA | Metro: Bland County, VA
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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $137,638 | 0.7% | D |
| 3BR | $1,260 | $193,388 | 0.65% | D |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP 24314, Bastian, VA, hinges on the gap between the Fair Market Rent (FMR) of $930 and the average monthly market rent of $837 for the metro area in fiscal year 2026. This gap is $93, or approximately 11%, indicating that the FMR is higher than the market rent.
In this scenario, where the FMR exceeds the market rent, voucher tenants can provide a yield play for landlords and small-portfolio investors. The higher FMR means that the government will pay a larger amount toward the rent, potentially making the investment more profitable compared to open-market rates. However, this ZIP also presents challenges due to its high vacancy rate of 33.9% and lower median income of $60,714, which is significantly below the state median of $85,417.
Bastian's median home value stands at $176,593, and with only 14.8% of residents being renters, the market is relatively balanced. Yet, the elevated management overhead and the need for a tight operating hand suggest that the best strategy involves thorough tenant screening and proactive management practices.
Despite the potential for higher rental yields, the overall investment appeal in 24314 is rated as mixed, with a score of 3.0/5 (47/100). This indicates that while there are opportunities, they require careful consideration and active involvement to avoid pitfalls associated with passive investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.