Real Estate Investing in Chilhowie, Virginia (24319)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24319 (Chilhowie, VA)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 14.6% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Chilhowie, VA (24319)?
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Market Analysis: 24319 Chilhowie
ZIP 24319 in Chilhowie, VA carries a impressive set of headwinds. Home values near $195K and rents of $873/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 24319 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Nearby ZIPs in Chilhowie have seen price recovery that 24319 has not matched. Smyth County data supports the view that the spread is structural rather than temporary.
The 24319 ZIP's population of 6,963 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Distressed ZIPs reward experience. resilient returns are possible in 24319, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Chilhowie:
Property Strategy for 24319
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $134,757 | $970 | 5.2% | +7.8% | $67,378 |
| 3BR | $200,385 | $1,270 | 4.6% | +8.7% | $66,795 |
| 4BR | $250,145 | $1,510 | 4.3% | +9.6% | $62,536 |
Market Trends
Home Value History (with trend line)
📊 How Does 24319 Compare?
| Metric | 24319 | Chilhowie | Virginia |
|---|---|---|---|
| Home Value | $195,490 | $195,490 | $403,170 |
| 5-Year CAGR | 6.8% | 6.8% | 6.4% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 3.5% | 3.5% | - |
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 24319 (Chilhowie, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $195,490 |
| Monthly Rent | $873 |
| Price-to-Rent | 18.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +5.5% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 (3.5%). 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 24319
Population: 6,963
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 24319
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
What strategy should investors use in Chilhowie, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Chilhowie, VA. With home values at $195K and rents near $873/mo, other strategies can work but produce consistent rather than outsized returns.
How strong is tenant demand in Chilhowie, VA?
Chilhowie, VA draws a predictable base of working renters. Demand at the $873/mo rent level is reasonable for standard single-family and small multi rentals.
What are vacancy rates like in Chilhowie, VA?
Vacancy in Chilhowie, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $873/mo.
Is Chilhowie, VA good for landlords?
Chilhowie, VA falls under VA landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
How much rent can I charge in Chilhowie, VA?
Rents in Chilhowie, VA run near $873/mo. Compared with median home prices of $195K that produces solid gross yields for typical rentals.
You know 24319 now. You don’t know where it ranks.
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