Location: Pittsylvania County-Danville city, VA | Metro: Pittsylvania County-Danville city, VA HUD Nonmetro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
ZIP code 24549, located in Dry Fork, Virginia, is part of Pittsylvania County and has a unique profile among its neighbors. With a population of 4,160 residents, it stands out due to its relatively low rental rate of 18.4%, indicating that the majority of residents own their homes. The median income in this area is $55,186, which is modest but sufficient for most homeowners to manage their expenses comfortably. The median home value is $195,849, reflecting the affordable nature of the housing market in Dry Fork.
The economic dynamics of Section 8 vouchers in this ZIP code are favorable for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $990, while the current market rent, according to Census ACS data, is $1,051. This means that landlords can expect to receive a slightly higher rent from tenants using vouchers compared to those paying the average market rate, thus providing a stable source of income without having to charge below-market rates.
Based on the available data, the ZIP code 24549 presents a stable environment for real estate investment. The modest median income and low rental rate suggest a community where homeownership is prioritized and maintained. Additionally, the positive difference between the FMR and the actual market rent indicates that Section 8 vouchers can be a reliable and beneficial source of income for landlords. This combination of factors points towards a ZIP code that is unlikely to experience significant transitional shifts in the near future, making it an attractive option for long-term real estate investments.
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.