Location: Dickenson County, VA | Metro: Buchanan 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 | $870 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $53,715 | 1.92% | A+ |
| 3BR | $1,430 | $102,542 | 1.39% | A |
U.S. Census Bureau data (2024)
The market in ZIP code 24656, encompassing Vansant, VA, presents a dynamic landscape that is indicative of evolving housing pressures. With a Fair Market Rent (FMR) of $990 for the fiscal year 2026, it's clear that the government's benchmark for affordable rental units is set above the current market rent of $635, as reported by the Census Bureau's American Community Survey. This suggests a scenario where demand is currently stable but not overwhelming, allowing rents to remain below the threshold deemed necessary to support a fair market.
The median home value stands at $82,697, which is relatively low compared to national averages, hinting at an area that might be attractive to first-time buyers or those seeking affordable homeownership. However, the lack of specific data on price-cut share and days on market (DOM) makes it challenging to definitively state whether supply is outpacing demand or vice versa. In such a scenario, it's crucial to monitor these metrics closely to understand the market's direction.
A noteworthy figure is the 15.6% share of renters, which indicates a significant portion of the population is not tied to homeownership. This percentage points towards a market where there could be ongoing pressure for rental properties, as a substantial number of residents prefer or are compelled to rent rather than buy. The presence of a sizeable renter base can be seen as a long-term indicator of housing demand, suggesting that even if the supply of homes increases, there will still be a need for rental units to accommodate those who choose or must rent.
Landlords and small-portfolio investors should consider these dynamics when evaluating opportunities in Vansant, VA. The gap between FMR and market rent offers a window into the potential for rental growth, while the median home value signals an area ripe for investment in affordable housing. The 15.6% renter share underscores the importance of maintaining a robust rental sector, as it reflects both current and future demand for housing solutions that do not require immediate ownership.
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.