Location: Tazewell County, VA | Metro: Tazewell County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
The 24601 ZIP Code has 59 residents and 31 households, with an average of 1.90 persons per household. The median age is 52.5 years, significantly older than the state (38.7 years) and national (38.8 years) averages. This indicates a retirement-focused area, suggesting a potential difference in the demand for housing subsidies.
The percentage of renters in ZIP 24601 is 38%, indicating that it is not heavily dominated by renters. The median household income is $41,450, which is below the national average. The median home value is $120,000, and the median rent is $665. Given the median household income, typical rent consumes about 16% of the local income.
The Fixed Monthly Rent (FMR) for the metro area is set at $910 for fiscal year 2026. Since the median rent of $665 is below the FMR, it suggests that housing in this ZIP code is relatively affordable for those receiving Section 8 vouchers.
Landlords in ZIP 24601 should expect a tenant pool that includes a significant number of older adults who may be retired or on fixed incomes. These individuals often rely on government assistance programs like Section 8 to cover their housing costs. The lower median income and median rent indicate that many residents could benefit from voucher assistance, making it a viable option for landlords seeking stable tenants.
In conclusion, while the area is not heavily dominated by renters, the lower median income and median rent suggest that there is a reasonable demand for Section 8 vouchers. Landlords should be prepared for tenants who require assistance to meet their housing expenses.
Data Sources: FMR data from HUD (2027).
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.