Location: Pittsylvania County-Danville city, VA | Metro: Pittsylvania County-Danville 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 | $660 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $142,056 | 0.66% | D |
| 3BR | $1,290 | $204,851 | 0.63% | D |
| 4BR | $1,430 | $253,460 | 0.56% | F |
U.S. Census Bureau data (2024)
ZIP code 24563, located in Hurt, VA, falls within the broader Pittsylvania County-Danville city, VA HUD Nonmetro FMR Area. To analyze its position within this metro area, we can compare its specific figures to those of other ZIP codes in the region.
The Fair Market Rent (FMR) for ZIP 24563 is set at $910 for fiscal year 2026, which is higher than the market rent figure of $820. This suggests that the housing costs in 24563 are slightly above what the market naturally dictates, potentially indicating a slight premium on rental properties. However, the home value of $171,049 is relatively modest compared to what might be expected in a premium sub-market. Additionally, the 27.2% renter share is notable, as it suggests a significant portion of residents are renters rather than homeowners.
Typically, within the Pittsylvania County-Danville city, VA HUD Nonmetro FMR Area, ZIP codes exhibit varying degrees of affordability and desirability. The combination of a higher FMR with a lower market rent and a below-average home value, coupled with a substantial renter share, points towards 24563 being a potential value pocket for landlords and small-portfolio investors. Such characteristics often signal an area where rental properties can attract a sizeable tenant base without commanding extremely high rents, making it an attractive option for those seeking stable returns.
The divergence between the FMR and the actual market rent, along with the significant renter share, could indicate that 24563 is particularly well-suited for Section 8 housing programs. Landlords here may find opportunities to participate in these programs, given the alignment between the FMR and the subsidy limits.
In summary, ZIP code 24563 appears to be a value pocket within its metro area, offering a balance between manageable property costs and a robust demand for rental housing. Its characteristics make it a favorable location for investment in rental properties, especially those looking to leverage Section 8 subsidies.
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.