Location: Wyoming County, WV | Metro: Wyoming County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 24818 presents a notable opportunity for landlords interested in Section 8 tenants. With a population of 1,481, 27.1% of residents are renters, indicating a significant portion of the population relies on rental housing. This makes it a renter-heavy area with potential deep voucher demand.
The median household income in ZIP 24818 is $47,718. While specific market rent figures are not available, we can use the Fair Market Rent (FMR) as a benchmark. The FMR for the metro area, which includes ZIP 24818, is set at $870 per month for FY 2026. Assuming that typical market rents align closely with this figure, renters in this ZIP would be spending approximately 22.4% of their annual income on rent, calculated as follows: ($870 * 12) / $47,718 = 22.4%. This is a reasonable percentage, suggesting that the rental market is accessible to many local households.
Landlords in ZIP 24818 should anticipate a tenant pool that is largely dependent on rental assistance programs such as Section 8. Given the median income and the FMR, these tenants are likely to be families or individuals who qualify for federal housing subsidies due to their lower income levels. They will seek affordable housing options that fit within their budget constraints, often looking for units that match or slightly exceed the voucher amount but remain within their overall affordability range.
In summary, ZIP 24818 offers a viable market for Section 8 tenants, with a substantial number of renters and an income level that supports a significant but manageable rent burden. Landlords should prepare for a tenant base that requires rental assistance and seeks value in housing costs relative to their 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.