Location: Wyoming County, WV | Metro: Wyoming County, WV
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,280 | $112,127 | 1.14% | B |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 24822 reveals two distinct scenarios based on the provided figures.
In the first scenario, using the annualized Fair Market Rent (FMR) for a 2-bedroom apartment at $870 per month (for FY 2026), the annual rental income would be $10,440. Given the median home value of $90,669, this implies a gross yield of approximately 11.5%. This calculation is straightforward and provides a clear snapshot of potential rental income relative to property value under the Section 8 program.
The second scenario, however, does not provide a market rent figure, rendering it impossible to calculate an accurate gross yield without making assumptions. The lack of a market rent data point suggests that either there's insufficient data available or the market conditions in ZIP 24822 do not align with typical real estate metrics used for such analyses. In any case, the absence of this crucial piece of information limits the ability to compare the Section 8 FMR against what might be achievable in the open market.
Given the 0.0% renter density in ZIP 24822, it becomes evident that relying solely on the Section 8 program for rental income is more realistic. The absence of a specific day-on-market (DOM) figure further underscores the unique challenges and opportunities present in this area, indicating a potentially stable but low-demand rental market.
The gross yield comparison clearly favors the Section 8 scenario, offering a tangible 11.5% annual return based on the FMR. Landlords and small-portfolio investors should consider this yield in light of the local rental market dynamics and the stability provided by government-backed rental assistance programs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.