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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $101,279 | 0.93% | C |
| 3BR | $1,150 | $166,445 | 0.69% | D |
| 4BR | $1,270 | $225,185 | 0.56% | F |
U.S. Census Bureau data (2024)
In Tazewell, Virginia (ZIP 24651), the real estate landscape presents a unique opportunity for landlords and small-portfolio investors. The median home value stands at $157,355, indicating a relatively affordable market. Despite this, only 0.2% of listings have seen price reductions, suggesting that sellers maintain a firm grip on their asking prices. This resilience in pricing, coupled with the unavailability of data regarding the median days on market (DOM), points to a stable housing market where properties sell promptly once listed.
The rental market dynamics further support the attractiveness of this area for investment. The Fair Market Rent (FMR) for the metro region is set at $910 for fiscal year 2026, whereas the current market rent is approximately $477. This substantial gap between the FMR and the actual market rent indicates significant potential for rental income growth. As the market adjusts towards the FMR, landlords can expect higher returns on their investments.
For long-term investors, the setup in Tazewell implies a realistic appreciation thesis. Given the stable home values and the growing rental market, there is a strong foundation for gradual property value increases. However, the lack of historical appreciation data means caution is advised. While the current conditions suggest positive trends, investors should be prepared for periods of stability rather than rapid appreciation. The key lies in the steady demand for rental properties, which can provide consistent cash flow and protect against inflationary pressures.
Landlords and investors should focus on acquiring properties below the median home value and positioning them competitively in the rental market. This strategy leverages the existing gap between market rents and the FMR, ensuring a solid return on investment. Additionally, maintaining a keen eye on local economic indicators and employment rates will help in understanding the broader context of the real estate market in Tazewell.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.