Location: Russell County, VA | Metro: Buchanan County, VA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
ZIP 24646 in Russell County, VA, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, which aligns well with the median home value of $73,698. Given the low median home value, properties in this ZIP code are likely to generate positive cash flow when rented out at the FMR, especially considering the relatively high FMR compared to the home values.
The median income in ZIP 24646 is $47,330, indicating a moderate economic environment where many residents rely on government assistance programs like Section 8. With a 1.6% renter share, the demand for affordable rental housing is significant, making it an ideal location for properties participating in the Section 8 program.
While there is limited data on appreciation plays and diversifiers, the current market trends suggest that ZIP 24646 is stable and offers consistent cash flow. The median listing price in Russell County, VA, has decreased slightly from $225K in May 2025 to $210K in April 2026, showing a -6.67% change. Similarly, the median sold price has also declined from $152.4K to $127.2K, representing a -16.53% change. These trends indicate a steady, if slightly declining, market, which is favorable for cash-flow generation but less so for rapid appreciation.
In conclusion, ZIP 24646 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Its alignment with FMR and low median home value ensure a reliable stream of rental income, making it a solid investment choice for landlords and small-portfolio investors looking for stable returns.
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.