Location: Smyth County, VA | Metro: Bland County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The ZIP code 24318, located in Bland County, VA, has a unique data signature with only 376 residents, where 8.3% of the population rents their homes. The median income stands at $60,815, while the median home value is significantly higher at $185,569. This disparity suggests a mix of owner-occupied homes and rental properties catering to different income levels.
Moving to the voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920. However, the specific market data for ZIP 24318 is currently unavailable, indicating a lack of detailed local analysis. Despite this, recent sales data from Redfin shows a median sale price of $105,000, which is notably lower than the median home value. This discrepancy could be due to the limited number of homes available for sale or the presence of distressed properties.
The data signature for ZIP 24318 reads as transitional rather than stable. The significant drop in median sale prices and the high median home value suggest ongoing changes in the local real estate market. Landlords and small-portfolio investors should closely monitor these trends to make informed decisions about investments and property management strategies in this ZIP code.
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.