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)
The investment landscape for Section 8 properties in ZIP code 24853 presents several challenges that first-time landlords must be prepared to face. Tenant turnover is a significant concern, with the market rent at $613 falling well below the Fair Market Rent (FMR) of $870 for the fiscal year 2026 in the metropolitan area. This disparity suggests that tenants may seek higher-rent accommodations, leading to frequent turnover and associated costs.
Vacancy exposure is another critical issue. The data does not provide a specific number of days on the market (DOM), which makes it difficult to predict how long a property might remain vacant. In areas with limited economic growth, such as where the median income is only $13,092, landlords can expect longer periods of vacancy due to fewer potential tenants able to afford even the lower market rents.
Deferred maintenance poses a risk as well. With no typical home value provided, it's challenging to gauge the financial impact of necessary repairs and upkeep. However, given the lower median income, tenants may have limited resources to contribute to maintaining the property, leaving landlords responsible for all costs.
Despite these risks, there are factors that could mitigate the challenges. A substantial 47.2% of residents are renters, indicating a high density of potential voucher users. This statistic points to a robust demand for rental housing, particularly among those eligible for Section 8 assistance.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.