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 24823 presents a unique scenario for landlords and small-portfolio investors considering Section 8 tenants. With a population of 413, only 19.0% of residents are renters, indicating that this is primarily a homeowner-dominated area. The scarcity of renters suggests that there is limited demand for rental properties, and consequently, fewer Section 8 vouchers are likely to be utilized in this market.
The median household income in ZIP 24823 is $130,020, which is significantly higher than the average income in many areas. However, the lack of available market rent data means we cannot calculate the exact percentage of income that goes towards rent. This makes it difficult to assess how typical rents compare to the Federal Market Rent (FMR) of $870, which is set for FY 2026 in the metro area. Despite this, it's reasonable to infer that with such a high median income, the actual market rents would likely exceed the FMR, making Section 8 vouchers less common and potentially less attractive to landlords in this area.
A landlord in ZIP 24823 can expect to attract tenants who are either fully funded by their Section 8 vouchers or have additional income sources to cover the gap between the voucher amount and the market rent. Given the homeowner-dominated nature of the area, these tenants might also be looking for shorter-term housing solutions or may have specific reasons for renting instead of owning. Landlords should prepare to manage expectations around rent subsidies and possibly screen for tenants with supplementary income to ensure financial stability.
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.