Section 8 Fair Market Rent (FMR) for ZIP 24565 - 2027

Location: Pittsylvania County-Danville city, VA | Metro: Halifax County, VA

Investment Score for ZIP 24565

N/A

Monthly Rent (2BR)

$950

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$780
2 Bedrooms	$950
3 Bedrooms	$1,290
4 Bedrooms	$1,460
5 Bedrooms	$1,694
6 Bedrooms	$1,897
7 Bedrooms	$2,049
8 Bedrooms	$2,151

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,290	$170,628	0.76%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,098

Median Household Income

$41,683

Housing Units

588

Renter Percentage

22.7%

Occupancy Rate

74.3%

Renter Occupied

The ZIP code 24565 is situated in a region that offers a balanced mix of rural charm and suburban convenience, making it attractive for both residents and investors. The area is characterized by its affordable housing options and a moderate demand for rental properties, which aligns well with the financial goals of landlords and small-portfolio investors.

Fair Market Rent (FMR): For fiscal year 2026, the FMR is set at $920, indicating a steady increase in rental values over time.
Market Rent: According to Census ACS data, the current market rent stands at $836, suggesting there is potential for rental rates to rise closer to the FMR.
Median Home Value: The median home value in the area is $145,083, offering a relatively low barrier to entry for property owners looking to invest.
Renter Share: With 22.7% of the population being renters, there is a significant portion of the community that relies on rental housing, ensuring a stable tenant base.
Days on Market (DOM): Although the data shows N/A for DOM, this could indicate that properties are sold quickly or that recent sales data is limited, pointing towards a dynamic local real estate market.
Median Income: The median household income is $41,683, which is below the national average, highlighting the importance of pricing properties and rentals appropriately to attract tenants.

Investors in ZIP 24565 can expect a favorable environment with room for growth in rental prices, supported by the gap between the current market rent and the FMR. The low median home value and median income suggest that affordability is a key factor in this area, which should be considered when setting rents to ensure they remain competitive. Given the substantial renter share, landlords can anticipate a consistent demand for rental units, though the lack of DOM data means caution is advised in interpreting the speed at which properties change hands. Overall, the area presents a solid opportunity for those seeking a stable investment with potential for gradual appreciation in both property and rental values.

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.