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 | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,230 | $328,865 | 0.37% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 24458 reveals several critical points for potential Section 8 real-estate investments.
The rent math does not work favorably here. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $910. However, the absence of specific market rent data makes it difficult to assess how this compares to what tenants might expect to pay privately. This uncertainty could lead to challenges in setting competitive rental rates that align with both market expectations and government guidelines.
Acquisition appears to be relatively affordable, with a median home value of $310,161. This figure suggests that purchasing properties in this area would not require an excessive outlay of capital, which is beneficial for investors looking to enter the market without significant financial strain. Unfortunately, the lack of data on days on market (DOM) and the percentage of homes needing price cuts further complicates the investment decision process. Without these metrics, it's challenging to gauge the liquidity of the housing market and the typical seller concessions required to close deals.
Tenant demand is notably low in ZIP 24458. With only 244 residents and a 0.0% renter share, securing tenants who qualify for Section 8 assistance will be extremely difficult. The small population size combined with virtually no renters indicates a highly unfavorable environment for rental property investments.
In summary, while the median home value presents an opportunity for affordable acquisitions, the lack of tenant demand and incomplete market rent data make ZIP 24458 a poor choice for Section 8 real-estate investments. Landlords and small-portfolio investors should consider areas with higher renter populations and clearer market rent indicators to ensure viable returns and occupancy rates.
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.