Location: Kingsport-Bristol, TN | Metro: Kingsport-Bristol, TN-VA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The median home value in ZIP 24327, part of the Kingsport-Bristol, TN-VA MSA, was $198,400 in fiscal year 2024 according to HUD data. This figure provides context for the rent-to-price ratio in the area.
The HUD Fair Market Rent (FMR) for ZIP 24327 in fiscal year 2024 is set at $940. However, specific market rent data for ZIP 24327 is currently unavailable. Given the median home value, the rent-to-price ratio suggests that rental income is relatively modest compared to home values, indicating that landlords should carefully assess their costs to ensure profitability.
Voucher tenants in ZIP 24327 will typically cashflow at the FMR, but only marginally due to the median home value being relatively low. To achieve positive cashflow, landlords might need to focus on premium units or properties with lower operating costs.
The median days on market (DOM) and the percentage of homes needing price cuts are not specified for ZIP 24327, but these metrics are generally important for understanding the rent-versus-buy dynamics. If these figures were available, they would help gauge the local housing market's responsiveness and liquidity.
In summary, the strongest investment angle for ZIP 24327 is likely stability. With a competitive housing market and a median home value that supports steady rental income, investors can expect reliable cashflows and a stable investment environment, though appreciation may be moderate.
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.