Real Estate Investing in Honaker, Virginia (24260)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24260 (Honaker, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 17.9% of homes vacant — above national norms.
- Lower household income: $38,136 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Honaker, VA (24260)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 24260 Honaker
This part of Russell County is not an easy win. The 24260 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 24260 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within VA, ZIP 24260 trails on several market indicators that neighboring Russell County submarkets outperform. The gap is real and significant enough to shape underwriting.
On the rental side, 5,070 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 24260 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Honaker:
Property Strategy for 24260
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $65,125 | $910 | 10.1% | +3.8% | $32,563 |
| 3BR | $118,099 | $1,190 | 7.3% | +4.3% | $39,366 |
| 4BR | $154,424 | $1,410 | 6.6% | +4.3% | $38,606 |
Market Trends
Home Value History (with trend line)
📊 How Does 24260 Compare?
| Metric | 24260 | Honaker | Virginia |
|---|---|---|---|
| Home Value | $100,914 | $100,914 | $403,170 |
| 5-Year CAGR | 1.5% | 1.5% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 6.3% | 6.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24260 (Honaker, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $100,914 |
| Monthly Rent | $819 |
| Price-to-Rent | 10.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.7% |
| Cap Rate | 6.3% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +4.7% ▲ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | +1.5% ▲ |
| 10-Year CAGR | +3.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 24260
Population: 5,070
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 24260
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How tight is the rental market in Honaker, VA?
Occupancy in Honaker, VA runs measured with elevated vacancy. Well-priced units at $819/mo lease on reasonable timelines.
Does a duplex house hack pencil in Honaker, VA?
Honaker, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $101K price point reasonable to enter.
What is the typical renter like in Honaker, VA?
The tenant pool in Honaker, VA is solid, supported by local employment and population fundamentals. Rents of $819/mo are well-absorbed by the market.
What do landlords charge for rent in Honaker, VA?
Average rent in Honaker, VA is approximately $819/mo per month. Against $101K home values that yields a reasonable rent-to-price ratio.
Where do home prices stand in Honaker, VA?
In Honaker, VA the median home value sits at $101K. Against the broader VA market, that reads as reasonable for most investors.
You know 24260 now. You don’t know where it ranks.
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