Location: Halifax County, VA | Metro: Halifax 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 | $800 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $188,656 | 0.66% | D |
| 4BR | $1,500 | $263,607 | 0.57% | F |
U.S. Census Bureau data (2024)
The classification of ZIP code 24558 hinges on its yield and stability metrics, which paint a picture of a market that leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market.
On the yield axis, the Federal Market Rent (FMR) for ZIP 24558 stands at $950 for fiscal year 2026, while the actual market rent is lower at $780. This indicates that landlords can expect to charge rents slightly below the FMR, suggesting a moderate yield potential. The median home value in this area is $172,204, which is significantly higher than the market rent but still provides an opportunity for positive cash flow when considering property management costs and mortgage payments.
Moving to the stability axis, the data reveals that 19.2% of residents are renters, indicating a modest rental demand. Unfortunately, the average days on market (DOM) for properties is not available, which could have provided insight into how quickly units are rented out. However, the median household income of $61,019 suggests that tenants have the financial capacity to meet their rent obligations, contributing to the overall stability of the rental market.
While the yield is not exceptionally high due to the disparity between the FMR and actual market rent, it remains reasonable. The stability factors, particularly the income levels, support the idea that tenants will be able to afford their rent, leading to fewer vacancies and a smoother cash flow. This combination places ZIP 24558 in the realm of a steady-cashflow zone, where the primary focus should be on long-term investment strategies and maintaining a consistent occupancy rate, rather than seeking quick flips or extremely high yields.
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.