Location: Mercer County, WV | Metro: Mercer County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 24714 in the metro area for fiscal year 2026 is set at $900. This figure represents the payment standard for Section 8 rentals, meaning it's the maximum amount the Housing Choice Voucher program will pay towards rent for a unit in this area. It's important to note that this is not the rent you can charge your tenant; it's the cap on the subsidy.
In ZIP 24714, the local market rent for similar units is currently listed as N/A, which indicates there might be limited data available or significant variation in rental prices. However, the 0.0% renter share suggests that there is a strong demand for affordable housing options, making Section 8 vouchers particularly attractive to potential tenants.
The acquisition cost for these properties is also listed as N/A, which typically refers to the cost of purchasing or developing a property. This lack of specific data could imply that there are no recent transactions or developments to provide a benchmark, but it doesn't necessarily mean that costs are high or low. Landlords should research local real estate trends to better understand the investment landscape.
To ensure the viability of your first Section 8 rental in ZIP 24714, verify that the unit meets all the necessary housing quality standards (HQS) before proceeding. These standards include safety, habitability, and other basic requirements that must be met for the property to qualify for the program.
By aligning your rental price with the $900 FMR and confirming HQS compliance, you can attract tenants who benefit from the voucher program while ensuring a stable income stream for your investment. The strong demand for affordable housing in the area, indicated by the 0.0% renter share, suggests that once your property is ready, finding a suitable tenant will likely be straightforward.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.