Section 8 Fair Market Rent (FMR) for ZIP 24382 - 2027

Location: Wythe County, VA | Metro: Wythe County, VA

Investment Score for ZIP 24382

Monthly Rent (2BR)

$940

Median Price (2BR)

$166,107

1% Rule

0.57%

Annual Yield

6.79%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$800
1 Bedroom	$850
2 Bedrooms	$940
3 Bedrooms	$1,290
4 Bedrooms	$1,460
5 Bedrooms	$1,694
6 Bedrooms	$1,897
7 Bedrooms	$2,049
8 Bedrooms	$2,151

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$940	$166,107	0.57%	F
3BR	$1,290	$237,161	0.54%	F
4BR	$1,460	$306,230	0.48%	F
5BR	$1,694	$391,896	0.43%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,582

Median Household Income

$57,509

Housing Units

7,573

Renter Percentage

29.9%

Occupancy Rate

88.3%

Renter Occupied

1,999

The Wytheville, VA area, specifically ZIP code 24382, is a region that presents unique opportunities for real estate investors interested in the Housing Choice Voucher Program, commonly known as Section 8. This rural setting offers a mix of rental and homeownership options, with distinct economic characteristics that influence the local housing market.

Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $910. This figure represents the maximum amount a landlord can charge for a unit to be eligible under the Section 8 program, providing a benchmark for rental pricing.
The market rent, according to the Census American Community Survey, is $750. This indicates that the actual rents charged are below the FMR, suggesting potential for modest increases without exceeding Section 8 limits.
The median home value in ZIP 24382 is $226,176. This reflects the overall cost of homeownership in the area, which could impact the affordability of rental properties for those on the voucher program.
Renters make up 29.9% of the population. This shows a significant portion of residents rely on rental properties, creating a steady demand for affordable housing units.
The median household income is $57,509. This income level aligns well with the eligibility criteria for Section 8 vouchers, indicating a strong likelihood of continued participation in the program.
The days on market (DOM) for listings is not available. However, the other data points suggest a stable market where demand meets supply, likely leading to quick property turnovers.

The combination of a slightly higher FMR compared to the actual market rent, a substantial renter population, and median incomes that fit the eligibility requirements for Section 8 vouchers, makes Wytheville, VA a viable investment opportunity for landlords and small-portfolio investors. The potential for modest rent increases without surpassing FMR limits, coupled with a steady demand for affordable housing, supports a positive outlook for rental property investments in this ZIP code. Investors should consider these factors carefully to ensure they meet the needs of their tenants while adhering to program guidelines.

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.