Location: Staunton-Stuarts Draft, VA | Metro: Harrisonburg, VA MSA
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 | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,630 | $340,271 | 0.48% | F |
| 4BR | $1,920 | $404,887 | 0.47% | F |
U.S. Census Bureau data (2024)
The ZIP code 24486 presents an interesting balance between yield and stability, making it a viable option for both high-yield seekers and those looking for steady cash flow.
On the yield axis, the Federal Market Rent (FMR) for ZIP 24486 in fiscal year 2024 is set at $1,270. This is significantly higher than the market rent of $1,057, indicating a potential opportunity for higher rental yields. However, the median home value in this area is quite high at $344,075, which suggests that the initial investment required for property acquisition would be substantial. This combination of high FMRs and lower market rents could be indicative of a high-yield market, particularly if landlords can secure Section 8 tenants who benefit from the higher FMR subsidy.
Moving to the stability axis, the ZIP code has 19.7% of its residents as renters, which is a relatively low percentage. This figure implies that there might not be a large pool of potential tenants, which could affect occupancy rates and thus the stability of cash flows. The average household income in the area is $80,990, which is a positive indicator for the financial health of potential tenants. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties can be rented out, which is crucial for understanding market stability.
Given these figures, ZIP 24486 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher FMR compared to market rent does offer a yield advantage, but the low percentage of renters and the absence of DOM data suggest that maintaining consistent occupancy might be challenging. Landlords should carefully consider the balance between higher potential rental income and the risks associated with a less liquid rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.