Location: Highland County, VA | Metro: Highland 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,230 | $329,128 | 0.37% | F |
U.S. Census Bureau data (2024)
5.3% of the population in ZIP code 24413 are renters, indicating a modest demand for rental properties in the area. However, the $910 Fair Market Rent (FMR) for metro areas in fiscal year 2026 suggests that rental units should be priced competitively to attract tenants. The median home value stands at $249,777, which reflects the overall housing market's valuation but does not directly impact rental pricing. Landlords and small-portfolio investors should note that the median income of $65,893 provides insight into the financial capabilities of potential tenants, ensuring they can afford the $910 FMR. Unfortunately, the lack of data on days on market (DOM) and the percentage of price-cut share makes it challenging to assess the current market dynamics and the urgency of finding tenants.
Despite these limitations, the $910 FMR serves as a benchmark for rental prices, ensuring compliance with HUD guidelines and maximizing the chances of securing tenants through Section 8 vouchers. Given the $249,777 median home value, it's reasonable to expect that property values could appreciate over time, providing long-term investment opportunities. The $65,893 median income supports the affordability of the FMR, but landlords must ensure that their tenants have stable income sources to meet the rental obligations. The 5.3% renter share indicates that the market is not highly saturated with rental properties, offering a niche opportunity for those willing to invest.
Based on the available data, landlords and small-portfolio investors should focus on properties that align with the $910 FMR and cater to the financial profile of the local population. With a median income of $65,893, there is a solid base of potential tenants who can benefit from Section 8 assistance. The modest renter share of 5.3% suggests that competition among rental properties might be lower, making it easier to attract tenants. Therefore, the Section 8 program remains a viable option for securing steady occupancy and cash flow in ZIP 24413.
Section 8 Verdict: Viable for securing steady occupancy with moderate competition.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.