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 |
910 is the Fair Market Rent (FMR) for ZIP 24640 in metro FY 2026, setting a clear benchmark for rental properties in this area. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 program. While the specific market rent for ZIP 24640 is not available, the FMR provides a reliable guideline for pricing units competitively. The absence of a median home value indicates that this data might be sparse or unavailable, which could suggest a unique housing market or a mix of property types. With the renter share being unknown, it's challenging to predict the demand for rentals; however, the FMR serves as a crucial reference point. The median income is also unspecified, making it difficult to assess the financial capacity of potential tenants in this area. Despite these gaps in data, the FMR remains a key indicator for rental pricing. The DOM (Days on Market) figure being N/A suggests that there might be limited recent sales data, which can complicate the analysis of how quickly properties are typically sold. Similarly, the lack of a percentage for the price-cut share means that there is no information on how often sellers reduce their asking prices, leaving a gap in understanding the negotiation dynamics of the local real estate market. In the context of Section 8, landlords must ensure that their rental rates align with the 910 FMR to remain competitive and compliant. Given the scarcity of detailed market data, landlords should rely heavily on the FMR to guide their decisions. The verdict for Section 8 participation in ZIP 24640 is cautious, with landlords advised to closely monitor the 910 FMR and consider the potential lack of broader market insights.
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.