Location: Bath County, VA | Metro: Staunton-Stuarts Draft, VA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
U.S. Census Bureau data (2024)
ZIP code 24432, located in Bath County, Virginia, can serve as a cash-flow anchor within a Section 8 portfolio strategy. Given that the Fair Market Rent (FMR) for the zip code in fiscal year 2024 is $1210, and the median home value is $264,615, there is a significant spread between these figures. This spread indicates that properties in this area can be rented out at a rate that exceeds the FMR, thus providing a stable and predictable cash flow.
The lack of recent market data suggests that the real estate market in 24432 is relatively stable and not subject to rapid fluctuations. This stability can be advantageous for landlords and small-portfolio investors who seek consistent rental income without the volatility associated with highly competitive markets. Furthermore, the absence of a substantial renter share (0.0%) and a median income of $89,259 imply that the majority of residents are homeowners, which could indicate a lower risk of vacancy and a more affluent tenant pool if renting is pursued.
While there is no data on appreciation potential or days on market, the existing metrics suggest that 24432 is best suited as a cash-flow anchor rather than an appreciation play or a diversifier. The high median income supports the ability of tenants to meet rental obligations, making this area a reliable choice for generating steady rental income.
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.