Location: Summers County, WV | Metro: Mercer County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
ZIP code 24739 encompasses a portion of Princeton, West Virginia, characterized by a moderate-sized residential population of 13,981 individuals. Renters make up a significant but not overwhelming portion of the community at 17.1%, indicating a mix of homeowners and tenants. The area's economic profile shows a median household income of $61,436, which places it comfortably above the national average. Median home values in the region stand at $188,805, reflecting a stable housing market where property ownership remains accessible.
When it comes to rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. This figure contrasts with the current market rent, as reported by the Census Bureau's American Community Survey (ACS), which stands at $875. The discrepancy between the FMR and the actual market rent suggests that there could be opportunities for landlords and small-portfolio investors to either increase rents or improve properties to justify higher rates closer to the FMR level.
The question of whether this area suits a hands-off voucher operator or requires a hands-on approach hinges on the local dynamics. Given the relatively low percentage of renters and the modest median income, hands-off operators might find success by focusing on maintaining properties at a standard that attracts Section 8 tenants without necessitating extensive renovations. However, for those inclined towards a more active role, there is potential to enhance property values and rental rates by investing in improvements that align with the FMR. This strategy would appeal to value-add buyers who can capitalize on the growing demand for affordable housing by providing better quality units that command higher rents.
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.