Location: Charlotte County, VA | Metro: Lynchburg, 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 | $930 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,480 | $185,901 | 0.8% | D |
U.S. Census Bureau data (2024)
ZIP 24528, located in Brookneal, VA, within the Charlotte County, VA metro, serves as a cash-flow anchor in a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 24528 in fiscal year 2024 is set at $1020, while the market rent stands at $832. This creates a positive spread of $188, ensuring that landlords receive higher rental payments through Section 8 vouchers compared to the local market rate.
The median home value in ZIP 24528 is $162,592, indicating that it is a modestly priced area. With a renter share of 17.5%, the demand for rental properties is stable, but not exceptionally high. The median income of $58,343 suggests that residents have sufficient earnings to contribute to their rental costs, reducing the risk of default.
While the data does not provide specific information on price-cut shares or days on market (DOM), the significant difference between FMR and market rent makes ZIP 24528 a reliable choice for generating steady cash flow. Landlords and small-portfolio investors should consider this ZIP code as part of their strategy to balance income generation and risk management within their portfolios.
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.