Location: Wyoming County, WV | Metro: Mercer County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
The ZIP code 24736 represents a small, tightly-knit community with a population of just 426 residents. Approximately 20.4% of these residents are renters, indicating a primarily owner-occupied environment. The median home value in this area stands at $65,018, which suggests a modest residential setting where homeownership is accessible even to those with lower incomes.
Despite the low median home value, the economic landscape of ZIP 24736 remains somewhat opaque due to the lack of specific data on median income and market rent. However, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $890. This figure serves as a benchmark for rental prices and can be particularly relevant for Section 8 housing vouchers, which aim to ensure affordable housing options for eligible tenants.
Given the limited market rent data and the relatively low median home value, it appears that ZIP 24736 could be an attractive option for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the established FMR provides a clear guideline for setting rental prices that align with government assistance programs, ensuring steady cash flow without the need for active management beyond compliance with voucher requirements.
On the other hand, hands-on value-add buyers might find opportunities to improve properties and command rents closer to the FMR, thereby increasing their revenue streams. The low median home value also indicates potential for significant appreciation if improvements are made, making it a viable target for investors looking to add value through renovations or strategic upgrades.
In conclusion, ZIP 24736 offers a niche market for Section 8 investors, with its small size and modest property values providing both stability and potential growth. Whether pursuing a passive or active investment strategy, the area's characteristics align well with the goals of affordable housing investment.
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.