Location: Wyoming County, WV | Metro: Wyoming County, WV
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $41,908 | 2.24% | A+ |
| 3BR | $1,280 | $63,572 | 2.01% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 24726, located in Mullens, WV, presents a unique challenge for both renters and landlords. The median household income in this area is $27,159, which is significantly lower than the typical income needed to afford market-rate rents. Given that the median rent is reported as an anomaly (-$666,666,666), it's essential to rely on the Fair Market Rent (FMR) standard set by the government, which is $870 for the metro area in fiscal year 2026.
Considering the median income, it would be challenging for a household to afford the $870 FMR without financial assistance. The low income levels suggest that many residents may depend on rental subsidies such as Section 8 vouchers to secure housing. This reliance on subsidized housing means that landlords must evaluate whether accepting voucher payments aligns with their investment strategy.
The ZIP code has a population of 275, with a reported 0.0% of renters, indicating a predominantly owner-occupied community. However, this statistic likely underrepresents the actual rental market due to limited data availability. The affordability gap, coupled with the small number of potential renters, could lead to stiff competition among landlords who cater to the rental market.
For landlords considering their rental strategies, the takeaway is clear: accepting Section 8 vouchers could be a viable option given the high dependency on subsidies. While voucher payments ensure consistent income, they also come with regulatory compliance and inspection requirements. Landlords should weigh these considerations against the stability of cash-paying tenants who might be few and far between in this ZIP code.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.