Location: Bland 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 | $730 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,260 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $213,540 | 0.59% | F |
U.S. Census Bureau data (2024)
ZIP code 24366, located within the Bland County, VA metro area, presents unique characteristics when compared against typical ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 24366 is set at $950 for fiscal year 2026, which serves as a benchmark for affordable housing subsidies. However, the lack of reported market rent data for this ZIP code suggests that rental activity might be less prevalent, aligning with the reported 0.0% renter share.
The median home value in ZIP 24366 stands at $189,988. This figure is indicative of the overall cost of homeownership in the area. Given the absence of specific data on typical home values for other ZIP codes within Bland County, we can infer that this median home value is likely representative of the broader county's housing market. In the context of the entire metro area, if the typical home values exceed $189,988, then ZIP 24366 could be considered a value pocket where property costs are relatively lower.
The 0.0% renter share is noteworthy, suggesting that homeownership is predominant in this ZIP code. This low percentage of renters contrasts sharply with areas that have a higher proportion of renters, often including those who rely on Section 8 vouchers. Since there is no significant renter presence, it implies that ZIP 24366 is not a prime location for landlords seeking tenants eligible for federal housing assistance programs.
Without additional comparative data on other ZIP codes within Bland County, it is difficult to definitively categorize ZIP 24366 as either a mid-tier neighborhood or a premium sub-market. However, the combination of a defined FMR, a median home value, and an almost nonexistent renter share points towards a community heavily skewed towards owner-occupied homes. This ZIP code appears to offer value for small-portfolio investors interested in purchasing properties rather than renting them out, particularly given the lack of market rent data which suggests a limited rental market.
In summary, ZIP 24366 is best characterized as a value pocket within the Bland County, VA metro area, offering affordable housing opportunities with a median home value of $189,988 and a low renter share. Landlords and investors should consider the limited potential for rental income and focus on long-term homeownership opportunities.
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.