Location: Wyoming County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP 24828 in Davy, West Virginia, is anchored by the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for a metro area like Davy, set at $870 for fiscal year 2026, stands in stark contrast to the non-existent reported market rent data. This gap is significant, indicating that properties rented through Section 8 vouchers could be yielding higher returns than the open market suggests.
In ZIP 24828, only 2.8% of the population are renters, which implies a relatively low demand for rental properties. However, the median household income of $17,424 is notably lower than the median home value of $46,798, suggesting that many residents rely on government assistance to afford housing. This makes Section 8 vouchers particularly relevant for potential tenants.
The $870 FMR exceeds the local median income, making it a strategic opportunity for landlords. By accepting Section 8 vouchers, landlords can secure a steady stream of rental income without the risk of vacancy, given the limited rental market and high reliance on government subsidies. This scenario transforms ZIP 24828 into a yield play, where the guaranteed payment through the voucher system can outperform the fluctuating nature of the open market.
To summarize, the $870 FMR, when compared to the lack of market rent data, presents a clear advantage for landlords who accept Section 8 vouchers. This strategy leverages the local economic context, characterized by a low rental demand and high dependence on government assistance, to ensure stable and potentially above-market yields.
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.