Location: Bland County, VA | Metro: Giles 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 | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,310 |
| 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 | $940 | $138,051 | 0.68% | D |
| 3BR | $1,310 | $209,774 | 0.62% | D |
| 4BR | $1,490 | $274,496 | 0.54% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP 24315 in fiscal year 2024 is set at $910. In contrast, the Census ACS reports the average market rent at $641. This means that voucher tenants will cashflow significantly at the FMR, providing a substantial buffer for landlords.
To derive the rent-to-price ratio, we use the median home value of $194,307. The ratio between the HUD FMR and the median home value indicates that renting properties in this area can be highly profitable compared to owning them. However, the exact profitability would depend on the specific unit and its condition.
The data does not provide a median Days on Market (DOM) or the percentage of homes that require price cuts. Nevertheless, these metrics are crucial for understanding the local real estate market's health and the potential challenges in selling or renting out properties.
In conclusion, the strongest investor angle in ZIP 24315 is cashflow due to the significant gap between the HUD FMR and the actual market rent. This provides a clear advantage for landlords and small-portfolio investors looking to secure steady income through Section 8 tenants.
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.