Housing market/Virginia/ZIP 24216
ZIP 24216 Appalachia, Wise County, Virginia
Wise County-Norton city, VA HUD Nonmetro FMR Area · Virginia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
Email this profile
HUD schedule, ACS stock, and the 90–110% band for ZIP 24216 · VA — sent to you.
ZIP 24216 · VA
ACS rent vs 2BR SAFMR
ZIP 24216 — Appalachia, 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 24216
- 1-unit detached84268.1%
- 1-unit attached121.0%
- 2–4 units594.8%
- 5–49 units17013.8%
- Mobile15312.4%
2–4 unit share 4.8% · 5–49 unit share 13.8% · combined 2–49 18.5%.
Units by bedrooms
Rent burden
- ACS median gross rent $674 (all bedrooms, occupied rentals).
- Median contract rent $498.
- Renters paying ≥30% of income 26.7%; ≥50% 22.4%.
- FY2027 2BR SAFMR $990 (1.469× ACS median gross rent).
Population
2,356 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: -11.7%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 1 projects, 88 units.
- HUD project-based assisted MF: 1 properties, 88 assisted units.
- 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 24216 32.1% of occupied households are renters; vacancy is 18.9%; ACS median gross rent is $674; population changed -11.7% between the 2018 and 2023 ACS vintages; the housing stock includes 59 units in 2–4-unit structures and 170 units in 5–49-unit structures; 1 LIHTC projects totaling 88 units; FY2027 2BR SAFMR is $990 versus ACS median gross rent of $674. 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 24216 is a Census / HUD profile for Wise County-Norton city, VA HUD Nonmetro FMR Area, VA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 24216 — Appalachia, 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 24216?
ZIP 24216 (Wise County-Norton city, VA HUD Nonmetro FMR Area) has 2,356 residents, 1,002 households, a renter share of 32.1%, median household income of $32,400, and ACS 2023 median gross rent of $674. Vacancy is 18.9%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 24216?
ACS counts 21 units in 2-unit buildings, 38 in 3–4 unit buildings, 96 in 5–9, 46 in 10–19, and 28 in 20–49. Combined 2–49 unit stock is 229 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 24216?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $990. See the full schedule and 90–110% payment-standard band on the ZIP 24216 — Appalachia, VA HUD Section 8 Payment Standards / SAFMR.
Does this Virginia ZIP profile include Georgia listings?
No. ZIP 24216 is Census / HUD research for Wise County-Norton city, VA HUD Nonmetro FMR Area. 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.