Location: McDowell County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
ZIP 24816, located in McDowell County, West Virginia, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. The median home value in this area is significantly lower than the state average, with an estimated median house value of $163,700 in 2023 for white non-Hispanic householders. This indicates that the overall cost of living and property acquisition is relatively low.
The Fair Market Rent (FMR) for the ZIP 24816 metro area in fiscal year 2026 is set at $870. Given the lack of specific market rent data, we can infer that this FMR likely exceeds the actual market rent in the area. This means that landlords participating in the Section 8 program can expect to receive rental assistance payments that are higher than what they might typically charge in the open market. This creates a reliable cash flow, especially considering the lower property values and maintenance costs associated with this region.
While there's no data available regarding the appreciation potential or the percentage of renters in the area, the low median home value and the higher-than-market FMR make ZIP 24816 a strong candidate for a cash-flow anchor in a diversified Section 8 portfolio. Landlords should focus on maintaining properties to ensure compliance with HUD standards while benefiting from stable and predictable rental income.
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.