Location: McDowell County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 24817, located in McDowell County, WV, reveals several key points for landlords and small-portfolio investors.
The rent math does not work favorably. The Fair Market Rent (FMR) for the area is set at $960 for fiscal year 2026, while the actual market rent based on Census ACS data is only $595. This discrepancy means that properties priced at the FMR will likely struggle to attract tenants willing to pay such a high rate.
Acquisition is not affordable given the lack of specific data on median home values, days on market (DOM), and the percentage of homes requiring price cuts. Without these figures, it's impossible to determine if the local real estate market offers good opportunities for purchase at reasonable prices.
Tenant demand is limited. The ZIP code has a population of 1,931, with only 20.7% of residents being renters. This low renter share suggests that there may not be enough potential tenants to fill rental units consistently, which could lead to vacancy issues and reduced income stability.
Verdict: ZIP 24817 presents challenges for investment due to unfavorable rent math and uncertain acquisition affordability. The limited tenant demand further complicates the prospect of achieving a steady stream of rental income. Potential investors should proceed with caution and seek additional data before committing capital to this area.
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.