Real Estate Investing in Hillsville, Virginia (24343)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 24343 (Hillsville, 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: 26.6% 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 Hillsville, VA (24343)?
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Market Analysis: 24343 Hillsville
Not every below-median market is a bargain. Hillsville's 24343 ZIP reports signals that favor experienced operators who can absorb the risk $199K pricing implies.
Turning to rents, the numbers look inviting — $199K purchase price, 0.0% nominal cap — the work to hit that pro forma in 24343 is substantial and deserves full respect.
ZIP 24343's metrics run below Carroll County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Resident income in 24343 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 24343 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 Hillsville:
Market Trends
Home Value History (with trend line)
📊 How Does 24343 Compare?
| Metric | 24343 | Hillsville | Virginia |
|---|---|---|---|
| Home Value | $199,247 | $199,247 | $403,170 |
| 5-Year CAGR | 4.9% | 4.9% | 6.4% |
| Avg Rent | $819 | $819 | - |
| Cap Rate | 3.2% | 3.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 24343 (Hillsville, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $199,247 |
| Monthly Rent | $819 |
| Price-to-Rent | 20.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.9% |
| Cap Rate | 3.2% |
| 5-Year IRR | 8.1% |
📈 Home Appreciation
| 1-Year | +14.8% ▲ |
| 3-Year CAGR | +4.4% ▲ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +5.5% ▲ |
🏠 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 (3.2%). 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 24343
Population: 8,942
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 24343
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
Should investors worry about vacancy in Hillsville, VA?
Vacancy in Hillsville, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $819/mo.
What is the average home sale price in Hillsville, VA?
Expect median prices around $199K in Hillsville, VA. The market has run at a 0.0% 5-year CAGR, so entry costs have been reliable.
Which investment style suits Hillsville, VA?
Investors usually favor careful cash-flow rentals with hands-on management in Hillsville, VA. With home values at $199K and rents near $819/mo, other strategies can work but produce predictable rather than outsized returns.
Is Hillsville, VA good for landlords?
For rental operators, Hillsville, VA rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What do rentals go for in Hillsville, VA?
Average rent in Hillsville, VA is approximately $819/mo per month. Against $199K home values that yields a reasonable rent-to-price ratio.
You know 24343 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 24343 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
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