Real Estate Investing in Floyd, Virginia (24091)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24091 (Floyd, VA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 15.1% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 26.3 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Floyd, VA (24091)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 24091 Floyd
The 24091 ZIP in Floyd, VA is a local-operator market. Outside capital chasing a $312K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 24091 posts the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 24091 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Employment concentration in 24091 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 24091 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Floyd:
Market Trends
Home Value History (with trend line)
📊 How Does 24091 Compare?
| Metric | 24091 | Floyd | Virginia |
|---|---|---|---|
| Home Value | $312,236 | $312,236 | $403,170 |
| 5-Year CAGR | 6.9% | 6.9% | 6.4% |
| Avg Rent | $990 | $990 | - |
| Cap Rate | 2.5% | 2.5% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24091 (Floyd, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $312,236 |
| Monthly Rent | $990 |
| Price-to-Rent | 26.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 9.4% |
📈 Home Appreciation
| 1-Year | +12.0% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +6.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 24091
Population: 7,307
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 24091
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
How should investors approach Floyd, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Floyd, VA. With home values at $312K and rents near $990/mo, other strategies can work but produce steady rather than outsized returns.
Are renters plentiful in Floyd, VA?
The tenant pool in Floyd, VA is solid, supported by local employment and population fundamentals. Rents of $990/mo are well-absorbed by the market.
What do rentals go for in Floyd, VA?
Floyd, VA rentals go for roughly $990/mo a month. That puts gross yield in solid territory relative to $312K acquisition costs.
How high is vacancy risk in Floyd, VA?
Vacancy in Floyd, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $990/mo.
Is house hacking profitable in Floyd, VA?
For house hackers, Floyd, VA is a challenging. The $990/mo rent on a unit helps defray the mortgage on a $312K property.
You know 24091 now. You don’t know where it ranks.
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