Location: McDowell County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
16.1% of residents in ZIP 24848 are renters, indicating a modest but stable demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $870, which represents the maximum amount Section 8 vouchers can cover for a two-bedroom apartment. This figure is crucial for landlords and small-portfolio investors planning to participate in the Section 8 program. Despite the N/A values for market rent and median home value, the median income of $27,065 provides insight into the financial capabilities of potential tenants. It's important to note that the lack of data on days on market (DOM) and the percentage of price-cut shares does not necessarily imply an inactive market; it could simply mean that such metrics are not widely tracked or reported for this particular ZIP code.
The median income suggests that many households may rely on government assistance to meet their housing needs. For those considering the Section 8 program, the $870 FMR is a key benchmark. Landlords should ensure that their property meets all necessary requirements and that the rent is competitive yet aligned with the FMR. Given the limited data available, investors should conduct thorough due diligence on local rental trends and property management costs.
While the specific figures for market rent and median home value are missing, the overall economic context provided by the median income and the FMR can guide investment decisions. With 16.1% of the population renting, there is a consistent segment of the market that may be interested in Section 8 properties. However, landlords must also consider the administrative aspects of the program, including regular inspections and compliance with HUD standards.
A final consideration is the stability of the rental market in ZIP 24848. Although the days on market and price-cut share percentages are not available, the steady demand from renters and the presence of the Section 8 program suggest a reliable source of tenancy. Investors should weigh these factors against the operational and administrative challenges of participating in the program.
Based on the available data, ZIP 24848 presents a viable opportunity for Section 8 investments, particularly for landlords willing to manage the administrative requirements and maintain properties to the required standards. The $870 FMR and the 16.1% renter share indicate a stable rental market that can support Section 8 properties effectively.
Section 8 Verdict: Suitable for investment with careful property management.
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.