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)
ZIP 24437, located in Staunton-Stuarts Draft, VA MSA metro, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for the area in fiscal year 2024 is set at $1130, which aligns closely with the needs of low-income tenants who rely on Section 8 vouchers. Given that the market median home value stands at $427,044, there's a significant spread between the FMR and the overall market value, ensuring that landlords can maintain steady, predictable rental income without the volatility associated with higher-value properties.
The median income in ZIP 24437 is $87,200, indicating a middle-class community where a portion of residents might still qualify for Section 8 assistance. This mix of income levels supports the stability of the property's occupancy rates, as there will be a consistent demand from those who need subsidized housing. With a 12.0% renter share, it's clear that a significant number of residents are already accustomed to renting, further enhancing the reliability of the cash flow.
A cash-flow anchor property is crucial for any investment portfolio because it provides a solid foundation of regular income. In ZIP 24437, landlords can expect to generate a reliable revenue stream with minimal risk of vacancy. The predictability of Section 8 payments, coupled with the area's stable economic conditions, makes this ZIP code an excellent choice for securing long-term financial stability.
While appreciation plays and diversifiers have their place in a well-rounded investment strategy, ZIP 24437 excels as a cash-flow anchor due to its combination of manageable property values and a supportive government program that guarantees timely rent payments. Landlords should consider this ZIP code for its ability to provide a dependable source of income, essential for maintaining portfolio balance and covering operational costs.
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.