Section 8 Fair Market Rent (FMR) for ZIP 24738 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 24738 is located in Nemours, West Virginia, within Mercer County. This area is primarily classified as a PO Box zone, indicating it may serve more as a postal delivery point rather than a residential or commercial hub. The population here is very low, with only 11 people recorded, leading to a high median age of 67 years, suggesting an older demographic.

The median household income and median home value are both reported as $0, which is unusual and likely indicates that there are no traditional homes or significant economic activity in this specific ZIP code. Given the small population size, it's also important to note that the vast majority of residents are homeowners, with no data available on renters. The poverty rate is listed at 0%, but this figure should be interpreted with caution due to the extremely small sample size.

Moving to the rent economics, the Fair Market Rent (FMR) for the Nemours area is set at $900 for fiscal year 2026, based on metropolitan standards. However, there is no specific data available on the market rent for ZIP code 24738, which further emphasizes the limited residential activity in this area.

Given these characteristics, ZIP code 24738 is not well-suited for either a hands-off voucher operator or a hands-on value-add buyer. The extremely small population and lack of traditional rental properties make it challenging to operate a profitable rental business here. For investors looking to enter the Section 8 market, they would be better served focusing on areas with larger populations and established rental markets.

Data Sources: FMR data from HUD (2027).

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.