Location: Pittsylvania County-Danville city, 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 | $810 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,230 | $212,107 | 0.58% | F |
U.S. Census Bureau data (2024)
The market in ZIP code 24594 presents a dynamic scenario that reflects the current housing pressures faced by renters and homeowners alike. With a Fair Market Rent (FMR) set at $990 for the fiscal year 2026, the government benchmark indicates a level that landlords can expect to be competitive within the area. However, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $1,258. This suggests that there is a strong demand for rental properties in the area, driving rents above the FMR.
The median home value in ZIP 24594 is $179,610, which is a key figure for understanding the affordability and desirability of owning property in this region. While the data on price-cut share and days on market (DOM) are currently unavailable, the disparity between the FMR and the actual market rent points towards a market where demand outpaces supply. Landlords and small-portfolio investors should take note of this trend, as it implies a favorable environment for rental investments.
A significant 9.1% of the population in ZIP 24594 consists of renters, indicating a notable segment of the housing market dedicated to rentals. This high renter share suggests long-term housing pressure, as many residents find it challenging to afford homeownership. For investors, this means that there will likely be a consistent demand for rental properties, providing a steady stream of income.
In summary, ZIP 24594 is a market characterized by robust demand for rental housing, evidenced by the higher market rent compared to the FMR. The high renter share underscores ongoing challenges in homeownership, creating a sustained need for rental options. This dynamic favors landlords and small-portfolio investors looking to capitalize on the current housing conditions.
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.