Location: Wythe County, VA | Metro: Wythe 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 | $830 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,270 | $239,665 | 0.53% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 24323, located in Wythe County, Virginia, reveals several key points for landlords and small-portfolio investors.
The rent math in this area does not work favorably due to the lack of available market rent data. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $910. Without comparative market rent figures, it's challenging to gauge if this rate aligns with what tenants can afford or what landlords can expect to charge profitably.
Acquisition in this ZIP code is relatively affordable. With a median home value of $237,336, potential investors have a clear benchmark for property costs. However, the absence of data on days on market (DOM) and the percentage of homes that required price cuts to sell suggests that while the entry cost is low, the dynamics of the local real estate market remain unclear.
Tenant demand is moderate in ZIP 24323. The population stands at 798 individuals, with 13.6% being renters. This indicates a limited pool of potential tenants, which could affect occupancy rates and rental income stability.
Verdict: ZIP 24323 presents an opportunity for acquisition at a relatively low cost, with a median home value of $237,336. However, the feasibility of renting out properties at the Fair Market Rent of $910 is uncertain without market-specific data. Additionally, the limited tenant base of 13.6% of the 798 residents suggests that securing long-term, stable tenancy might be challenging. Investors should proceed with caution, focusing on areas where they can leverage existing networks or amenities that attract and retain 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.