Location: McDowell County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
0.0% of the population in ZIP code 24813 are renters, indicating a predominantly owner-occupied area which may limit the demand for rental properties. Despite this, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900, providing a benchmark for rental pricing in the region. This FMR is crucial for landlords and small-portfolio investors as it guides the maximum allowable rental amounts for Section 8 housing vouchers. The lack of data on market rent, median home value, median income, days on market (DOM), and price-cut share suggests a scarcity of publicly available real estate metrics for this specific ZIP code, making it challenging to gauge broader market trends without further investigation. However, the absence of significant rental activity and the low FMR suggest that rental properties may struggle to attract tenants who qualify for Section 8 vouchers due to the limited number of eligible renters in the area. For those considering investing in rental properties within 24813 with the intent to participate in the Section 8 program, the low FMR and minimal rental presence could indicate a less favorable environment compared to areas with higher renter shares and more robust rental markets. The decision to enter this market should be carefully weighed against these factors, considering the potential challenges in finding qualified tenants and the impact of the low FMR on rental income.
Given the data, the Section 8 program in ZIP 24813 appears to offer limited opportunities for landlords and small-portfolio investors due to the extremely low renter share and the relatively modest FMR of $900. This combination suggests a smaller pool of potential Section 8 tenants and lower rental income compared to more densely populated rental markets. Landlords should proceed with caution, focusing on the specifics of the local housing landscape and the financial implications of the FMR for their investment decisions.
Verdict: Not recommended for Section 8 investments due to the low renter share and modest FMR.
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.