JeffCroweCRE

Housing market/Virginia/ZIP 24450

ACS 2023 · FY2027 SAFMR

ZIP 24450 Lexington, Rockbridge County, Virginia

Rockbridge County-Buena Vista city-Lexington 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.

Population
17,760
Households
6,376
Median HH income
$77,839
Renter share
33.2%
Median gross rent
$1,017
Vacancy
16.7%
Pop. change
+11.5%
2BR SAFMR
$1,130
SAFMR / rent
1.111×
2–49 unit stock
1,432
LIHTC proj / units
6 / 290
HUD assisted MF
4 / 187

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 24450 · VA — sent to you.

ZIP 24450 · VA

By checking this box you agree that you may be referred to another real estate broker or related service and acknowledge that CENTURY 21 The Avenues licensees and/or affiliates may be paid a valuable consideration for facilitating such referral.

ACS rent vs 2BR SAFMR

ZIP 24450 — Lexington, VA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,017
2BR SAFMR$1,130
90% floor$1,017
110% ceiling$1,243

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 24450

  • 1-unit detached5,68674.3%
  • 1-unit attached2363.1%
  • 2–4 units5987.8%
  • 5–49 units83410.9%
  • 50+ units190.2%
  • Mobile2773.6%
TypeUnitsShare
1-unit detached5,68674.3%
1-unit attached2363.1%
2 units (duplex)3514.6%
3–4 units2473.2%
5–9 units5487.2%
10–19 units1331.7%
20–49 units1532.0%
50+ units190.2%
Mobile2773.6%

2–4 unit share 7.8% · 5–49 unit share 10.9% · combined 2–49 18.7%.

Units by bedrooms

Studio
95
1BR
621
2BR
2,546
3BR
3,008
4BR
999
5+
381

Rent burden

Rent ≥30% of income40.4%
Rent ≥50% of income20.6%
  • ACS median gross rent $1,017 (all bedrooms, occupied rentals).
  • Median contract rent $851.
  • Renters paying ≥30% of income 40.4%; ≥50% 20.6%.
  • FY2027 2BR SAFMR $1,130 (1.111× ACS median gross rent).

Population

17,760 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +11.5%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 6 projects, 290 units.
  • HUD project-based assisted MF: 4 properties, 187 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 24450 33.2% of occupied households are renters; vacancy is 16.7%; ACS median gross rent is $1,017; population increased +11.5% between the 2018 and 2023 ACS vintages; the housing stock includes 598 units in 2–4-unit structures and 834 units in 5–49-unit structures; 6 LIHTC projects totaling 290 units; FY2027 2BR SAFMR is $1,130 versus ACS median gross rent of $1,017. 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 24450 is a Census / HUD profile for Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area, VA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 24450 — Lexington, VA HUD Section 8 Payment Standards / SAFMR·Virginia ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
24066Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area15.6%$947$1,66024415Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area0.0%—$99024416Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area38.6%$1,073$1,12024435Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area5.1%—$99024439Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area18.4%$809$1,14024459Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area27.6%—$1,22024472Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area11.6%$891$1,14024473Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area9.9%—$99024476Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area9.0%—$1,28024483Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area2.2%—$1,65024555Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area25.2%$708$94024578Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area11.0%—$1,180

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 24450?

ZIP 24450 (Rockbridge County-Buena Vista city-Lexington city, VA HUD Nonmetro FMR Area) has 17,760 residents, 6,376 households, a renter share of 33.2%, median household income of $77,839, and ACS 2023 median gross rent of $1,017. Vacancy is 16.7%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 24450?

ACS counts 351 units in 2-unit buildings, 247 in 3–4 unit buildings, 548 in 5–9, 133 in 10–19, and 153 in 20–49. Combined 2–49 unit stock is 1,432 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 24450?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,130. See the full schedule and 90–110% payment-standard band on the ZIP 24450 — Lexington, VA HUD Section 8 Payment Standards / SAFMR.

Does this Virginia ZIP profile include Georgia listings?

No. ZIP 24450 is Census / HUD research for Rockbridge County-Buena Vista city-Lexington 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.