Location: Pittsylvania County-Danville city, VA | Metro: Henry County-Martinsville city, VA HUD Nonmetro FMR Area
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 | $740 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $218,182 | 0.62% | D |
U.S. Census Bureau data (2024)
36165 The median income in ZIP 24530 underscores the financial landscape landlords must navigate when setting rents and considering tenant eligibility. 145368 With a median home value of $145,368, it's clear that the area offers affordability for potential homeowners, but what does this mean for rental properties? 950 In the context of Section 8 housing, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950, indicating the maximum allowable rent for subsidized units. 1.4 However, the renter share stands at just 1.4%, suggesting a limited pool of tenants who might be interested in renting rather than buying. N/A The absence of specific market rent and days on market (DOM) data points to a lack of recent activity in the rental sector, which could be due to various factors including low vacancy rates or strong preference for homeownership. N/A Moreover, the price-cut share remains unspecified, which typically would reflect how often sellers need to lower their asking prices to attract buyers, but in this case, it leaves us without insight into the current state of the housing market dynamics. 950 Given the $950 FMR and the relatively low renter share, landlords in ZIP 24530 should carefully assess the demand for Section 8 rentals against the supply of available units. 1.4 With only 1.4% of residents identified as renters, competition for Section 8 tenants could be fierce, necessitating strategic property management practices to ensure occupancy. 950 Landlords who can offer well-maintained properties within the $950 FMR limit will have a competitive edge in attracting eligible tenants. 950 Verdict: Section 8 participation is viable in ZIP 24530, but landlords must adhere strictly to the $950 FMR and be prepared for a challenging tenant pool.
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.