Real Estate Investing in Norton, Virginia (24273)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24273 (Norton, 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: 13.4% of homes vacant — above national norms.
- Lower household income: $38,396 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 Norton, VA (24273)?
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Market Analysis: 24273 Norton
The 24273 ZIP in Norton, VA is a local-operator market. Outside capital chasing a $118K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 24273 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Norton have seen price recovery that 24273 has not matched. Norton City data supports the view that the spread is structural rather than temporary.
The demographic picture in 24273 includes headwinds that any investor should price in. Income distribution skews lower than Norton averages, and tenant stability requires active management.
The 24273 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Norton:
Property Strategy for 24273
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $79,561 | $960 | 8.7% | +7.3% | $39,780 |
| 3BR | $131,715 | $1,270 | 6.9% | +7.0% | $43,905 |
| 4BR | $187,455 | $1,500 | 5.8% | +7.8% | $46,864 |
Market Trends
Home Value History (with trend line)
📊 How Does 24273 Compare?
| Metric | 24273 | Norton | Big Stone Gap, VA | Virginia |
|---|---|---|---|---|
| Home Value | $118,085 | $118,085 | N/A | $403,170 |
| 5-Year CAGR | 4.9% | 4.9% | N/A | 6.4% |
| Avg Rent | $864 | $864 | N/A | - |
| Cap Rate | 5.7% | 5.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24273 (Norton, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $118,085 |
| Monthly Rent | $864 |
| Price-to-Rent | 11.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.8% |
| Cap Rate | 5.7% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +1.7% ▲ |
| 3-Year CAGR | +3.6% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (5.7%). 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 24273
Population: 5,860
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 24273
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
Investor Insight: With 866 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of market is Norton, VA for investors?
Norton, VA scores 3.0/5 for investability. Home values sit at $118K and rents near $864/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How strong are rents in Norton, VA?
Expect rents around $864/mo per month in Norton, VA. With home values at $118K, the yield math works out to reasonable levels for rental investors.
How high is vacancy risk in Norton, VA?
Norton, VA sees elevated vacancy, which is reasonable relative to the broader VA rental market.
Is Norton, VA suited for a house hack?
House hacking in Norton, VA is reasonable to execute. Prices around $118K and rents of $864/mo solid owner-occupant economics.
Are eviction rules reasonable in Norton, VA?
Rental owners in Norton, VA deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
You know 24273 now. You don’t know where it ranks.
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How 24273 ranks in Big Stone Gap, VA
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