Real Estate Investing in Pennington Gap, Virginia (24277)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24277 (Pennington Gap, VA)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 21.3% of homes vacant — above national norms.
- Elevated poverty: 21.6% poverty rate — can affect rent collection.
- Lower household income: $33,155 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 Pennington Gap, VA (24277)?
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Market Analysis: 24277 Pennington Gap
In practical terms, ZIP 24277 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $94K median. It rewards specialists, not generalists.
The investment case in 24277 is healthy only for operators who understand what they are buying. A $94K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
The gap between 24277 and stronger Pennington Gap ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 24277 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 24277 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Pennington Gap:
Property Strategy for 24277
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $68,302 | $910 | 9.6% | +3.9% | $34,151 |
| 3BR | $105,784 | $1,240 | 8.4% | +5.5% | $35,261 |
| 4BR | $170,434 | $1,440 | 6.1% | +7.9% | $42,608 |
Market Trends
Home Value History (with trend line)
📊 How Does 24277 Compare?
| Metric | 24277 | Pennington Gap | Virginia |
|---|---|---|---|
| Home Value | $93,567 | $93,567 | $403,170 |
| 5-Year CAGR | 4.4% | 4.4% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 6.8% | 6.8% | - |
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 24277 (Pennington Gap, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $93,567 |
| Monthly Rent | $819 |
| Price-to-Rent | 9.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 10.5% |
| Cap Rate | 6.8% |
| 5-Year IRR | 11.3% |
📈 Home Appreciation
| 1-Year | +4.4% ▲ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +1.9% ▲ |
🏠 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 (6.8%). 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 24277
Population: 6,379
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 24277
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
What is the typical home price in Pennington Gap, VA?
The median home value in Pennington Gap, VA is roughly $94K. That puts it reasonable relative to the VA statewide average.
How landlord-friendly is Pennington Gap, VA?
VA ranks as a landlord-friendly state for landlord-tenant law. Pennington Gap generally follows the statewide framework, so landlords face reasonable operating rules.
What investment strategy works best in Pennington Gap, VA?
A careful cash-flow rentals with hands-on management strategy Pennington Gap, VA best. The market produces even-keeled results for that approach at the $94K price point.
How strong is Pennington Gap, VA for real estate investors?
Our data puts Pennington Gap, VA at 3.0/5 for investability. Home prices of $94K and rents around $819/mo create a solid backdrop for investor activity.
Is Pennington Gap, VA good for house hacking?
Pennington Gap, VA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $94K price point reasonable to enter.
You know 24277 now. You don’t know where it ranks.
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