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 analysis of ZIP code 24849 reveals a unique scenario where traditional metrics such as median income and market rent rates are not available, suggesting a limited dataset or an area with minimal rental activity. Given the population of 110 individuals and the reported 0.0% of renters, it's evident that the housing market here is predominantly owner-occupied, which significantly impacts the competitive landscape for landlords.
In the context of affordability, the Family Monthly Rent (FMR) set at $870 for metro FY 2026 serves as a benchmark for households potentially relying on vouchers. This figure represents the federal government's estimate of what a household should pay in rent based on local market conditions. However, without a median income figure or market rent data, it's challenging to assess whether a typical household in this ZIP code can afford the FMR or any higher rent.
The low number of renters implies that there is less competition among landlords in this area. This could be seen as advantageous for those who do choose to offer rental properties, as they might have a more stable tenant pool due to the scarcity of rental options. However, the reliance on voucher payments at $870 per month means that landlords must consider the administrative overhead and the potential for slower rent disbursements associated with voucher programs.
For landlords evaluating their strategy in ZIP 24849, the key takeaway is that while the competition is minimal, the financial viability of renting must be carefully considered against the backdrop of voucher payment standards. If market rates were known to be significantly higher than $870, landlords would need to weigh the benefits of having fewer competitors against the limitations imposed by voucher-reliant tenants. Conversely, if the area supports a robust owner-occupier market but lacks rental dynamics, focusing on non-voucher paying tenants might be more profitable, assuming such a demand exists.
In summary, the lack of comprehensive data points to a niche market with inherent challenges and opportunities. Landlords should prioritize understanding the local dynamics beyond the given statistics to make informed decisions about their rental offerings and payment strategies.
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.