Location: Staunton-Stuarts Draft, VA | Metro: Staunton-Stuarts Draft, VA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The ZIP code 24411 stands out due to its extremely low population of only 2 residents, making it one of the least populated areas analyzed under the Section 8 program. With 0.0% of residents renting, this area is entirely composed of homeowners, though the median income and median home value are not available, indicating a lack of significant residential activity or data reporting.
Moving to the voucher economics, the Fair Market Rent (FMR) for ZIP 24411 in fiscal year 2024 is set at $910. This figure is crucial for landlords and small-portfolio investors as it determines the maximum rent that can be charged to tenants participating in the Section 8 program. However, without a market rent comparison, it's challenging to assess how competitive this FMR is within the local housing context. The absence of market rent data suggests that there might not be a substantial rental market in this area, which could be a consideration for potential investments.
Given the data signature, ZIP 24411 reads as highly stable but also inactive. The lack of renters and the minimal number of residents suggest a static environment with little change expected in the near future. For investors looking to enter this market, the stability comes with the caveat of limited demand and activity, which may not offer the growth opportunities seen in more populous and dynamic areas.
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.