Location: Tazewell County, VA | Metro: Tazewell 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 | $960 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,180 | $197,862 | 0.6% | F |
| 4BR | $1,310 | $275,364 | 0.48% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 24637 in Tazewell County, VA, reveals a favorable environment for rental properties. The HUD Fair Market Rent (FMR) for the area is set at $920 per month for fiscal year 2026, which is significantly higher than the average market rent of $780 based on Census ACS data.
Voucher tenants in this ZIP code will generally cashflow positively at the FMR rate, meaning landlords can expect a monthly profit without relying on premium units. This positive cashflow scenario provides a strong foundation for investment, ensuring steady income from Section 8 tenants.
To further understand the local market, the median home value in ZIP 24637 is $193,361. Using this figure, we can calculate a rent-to-price ratio that indicates how affordable renting is compared to buying. The ratio is approximately 5.7%, which suggests that renting remains relatively competitive with purchasing in this area.
Note that the median Days on Market (DOM) and the percentage of homes that required a price reduction are not available, but given the positive cashflow situation, these metrics are less critical for assessing the strength of the rental market.
The strongest investor angle in ZIP 24637 is cashflow, due to the disparity between the HUD FMR and the market rent. This makes it an attractive option for those looking to generate consistent rental income through Section 8 housing assistance.
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.