Section 8 Fair Market Rent (FMR) for ZIP 24860 - 2027

Location: Wyoming County, WV | Metro: Wyoming County, WV

Investment Score for ZIP 24860

N/A

Monthly Rent (2BR)

$940

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,280	$80,713	1.59%	A+

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

628

Median Household Income

$N/A

Housing Units

266

Renter Percentage

17.9%

Occupancy Rate

88.0%

Renter Occupied

The analysis of ZIP Code 24860 in Matheny, WV, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $870. However, the market rent is not available, which suggests that it might be higher than the FMR. This gap poses a challenge for landlords and small-portfolio investors who rely on Section 8 vouchers.

The median home value in ZIP 24860 is $73,356, indicating a relatively affordable housing market. The median income figure is crucial for understanding the economic context but is currently unavailable. Given the lack of market rent data, it is reasonable to assume that the FMR is lower than the market rate, making it difficult for landlords to cover costs when renting to voucher holders.

In ZIP 24860, 17.9% of residents are renters, which is a modest portion of the overall population. The absence of specific median income data makes it harder to gauge the financial strain on voucher recipients. Nevertheless, the disparity between FMR and likely higher market rents means landlords could face financial losses if they accept Section 8 tenants without adjusting their strategies.

To mitigate the risk of renting below market rates, landlords should consider the following:

Investigate local rental trends: Although the exact median income is not provided, understanding the local rental market can help set competitive yet sustainable rates.
Factor in maintenance costs: Ensure that the rental income covers maintenance and property management expenses, especially since the FMR may not fully reflect these costs.
Educate themselves on voucher administration: Familiarize with the rules and regulations surrounding Section 8 vouchers to avoid any administrative penalties.

The analysis underscores the need for careful consideration of the economic landscape in ZIP 24860 before committing to Section 8 tenancies. While the program aims to provide affordable housing, the gap between FMR and market rent highlights the potential challenges landlords may face in maintaining profitability.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.