Location: Mingo County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
ZIP code 24846, located within the Mingo County, WV metro area, has a Federal Market Rent (FMR) of $900 for fiscal year 2026. This figure is critical for understanding the rental landscape within this ZIP code. The FMR is set by the U.S. Department of Housing and Urban Development (HUD) and serves as a benchmark for affordable housing programs, including Section 8.
Unfortunately, the market rent and home value data for ZIP 24846 are not available, which limits our ability to make direct comparisons to the broader county metrics. However, we can infer that the $900 FMR likely represents a subsidized rent level, indicating that this ZIP code may cater to a segment of the population eligible for HUD assistance.
The renter share of 41.0% in ZIP 24846 is notably higher than the typical U.S. average, which hovers around 35%. This suggests a strong demand for rental properties within this area. In the context of Mingo County, where economic conditions may influence housing affordability, a high renter share combined with an FMR could signal a value pocket for landlords and investors who focus on affordable housing units.
While we cannot definitively classify ZIP 24846 as a value pocket, mid-tier neighborhood, or premium sub-market without additional data on market rents and home values, the high renter share and the presence of an FMR suggest it is well-positioned to attract tenants seeking affordable options. The absence of market rent and home value data means there's limited information to determine if this ZIP code is significantly different from other areas in terms of overall cost, but the high reliance on rental properties indicates a robust demand for affordable housing solutions.
To conclude, ZIP 24846 appears to be a value pocket within the Mingo County, WV metro area due to its high renter share and the availability of Section 8 housing options at $900. Landlords and small-portfolio investors should consider the potential for steady occupancy rates and government subsidies, which can provide a stable income stream despite the lack of premium pricing.
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.