Location: Lynchburg, VA | Metro: Lynchburg, VA MSA
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 | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,520 | $318,500 | 0.48% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 24593 reveals a unique blend of yield and stability that is neither purely a high-yield/low-stability flip-style market nor a straightforward steady-cashflow zone. The Federal Market Rent (FMR) for the area stands at $1,070 for fiscal year 2024, while the market rent is slightly lower at $1,054. This suggests a modest rental yield potential, but not one that would typically characterize a high-yield environment.
The median home value in the area is significantly higher at $315,888, which is an important figure for assessing property investment value and potential resale gains. However, the relatively low percentage of renters at 11.6% indicates that the market may be less stable compared to areas with higher percentages of renters. A smaller rental population can mean less consistent demand for rental properties, which is a key factor in stability.
Income levels provide some insight into the financial health of the local residents, with an average income of $79,018. While this figure is positive, it does not necessarily correlate directly with rental stability without additional data on unemployment rates and economic trends. The lack of information regarding the number of days on the market (DOM) further complicates the assessment of stability, as this metric is crucial for understanding how quickly properties can be rented out or sold.
In conclusion, ZIP 24593 leans towards being a moderate investment opportunity. It offers a reasonable rental yield with a slight edge from the FMR over market rent, but the stability is compromised by the low renter population percentage. Income levels are supportive of rental payments, yet the absence of DOM data leaves a critical gap in fully gauging the stability of the market. For landlords and small-portfolio investors, this area represents a balance between yield and stability, necessitating careful consideration of these factors before making investment decisions.
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.