Housing market/Virginia/ZIP 24055
ZIP 24055 Bassett, Patrick County, Virginia
Patrick County, VA · Virginia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 24055 · VA — sent to you.
ZIP 24055 · VA
ACS rent vs 2BR SAFMR
ZIP 24055 — Bassett, VA HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 24055
- 1-unit detached4,45371.0%
- 1-unit attached400.6%
- 2–4 units1061.7%
- 5–49 units4236.7%
- Mobile1,25119.9%
2–4 unit share 1.7% · 5–49 unit share 6.7% · combined 2–49 8.4%.
Units by bedrooms
Rent burden
- ACS median gross rent $524 (all bedrooms, occupied rentals).
- Median contract rent $374.
- Renters paying ≥30% of income 45.9%; ≥50% 21.5%.
- FY2027 2BR SAFMR $940 (1.794× ACS median gross rent).
Population
11,520 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: -14.2%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 1 projects, 64 units.
- HUD project-based assisted MF: not published for this ZIP.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 0 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 24055 21.9% of occupied households are renters; vacancy is 18.9%; ACS median gross rent is $524; population changed -14.2% between the 2018 and 2023 ACS vintages; the housing stock includes 106 units in 2–4-unit structures and 423 units in 5–49-unit structures; 1 LIHTC projects totaling 64 units; FY2027 2BR SAFMR is $940 versus ACS median gross rent of $524. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Virginia research
ZIP 24055 is a Census / HUD profile for Patrick County, VA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 24055 — Bassett, VA HUD Section 8 Payment Standards / SAFMR·Virginia ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Virginia research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 24055?
ZIP 24055 (Patrick County, VA) has 11,520 residents, 5,087 households, a renter share of 21.9%, median household income of $41,733, and ACS 2023 median gross rent of $524. Vacancy is 18.9%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 24055?
ACS counts 106 units in 2-unit buildings, 0 in 3–4 unit buildings, 291 in 5–9, 132 in 10–19, and 0 in 20–49. Combined 2–49 unit stock is 529 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 24055?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $940. See the full schedule and 90–110% payment-standard band on the ZIP 24055 — Bassett, VA HUD Section 8 Payment Standards / SAFMR.
Does this Virginia ZIP profile include Georgia listings?
No. ZIP 24055 is Census / HUD research for Patrick County, VA. Jeff Crowe CRE does not list Virginia property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.