Location: Dickenson County, VA | Metro: Buchanan County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The ZIP code 24607, located in a county with limited data, stands out due to its unique demographic profile. With only 313 residents, it has a low population density, but a notable 11.8% of these residents are renters. The median income here is $92,361, which is above the national average, indicating a relatively affluent community. However, the lack of data on the median home value suggests that homeownership may be less prevalent or that there is insufficient data to provide an accurate snapshot.
Turning to the specifics of Section 8 housing, the Fair Market Rent (FMR) for the metro area covering ZIP 24607 for fiscal year 2026 is set at $970. This figure represents the maximum amount that a landlord can receive through the voucher program for a unit of a given size. In comparison, the market rent for the area is currently unavailable, making it difficult to assess the immediate economic impact of accepting vouchers. However, based on historical trends and the higher median income, it's reasonable to infer that the actual market rents could be higher than the FMR, potentially leading to a situation where landlords might prefer market rates over voucher payments.
The data signature for ZIP 24607 reads as transitional. While the median income is stable and high, the small number of residents and renters suggest a community that may be undergoing changes. The absence of median home value data points to either a recent shift in the housing market or a lack of comprehensive data, which could indicate a period of transition in the local real estate landscape. Landlords and small-portfolio investors should closely monitor any updates to the median home value and market rent data to better understand the dynamics of this ZIP code.
Data Sources: FMR data from HUD (2027). 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.