Location: Wyoming 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)
7.5% of the population in ZIP 24868 are renters, indicating a modest but steady demand for rental properties. In this area, the market rent stands at $677 according to Census ACS data, which is significantly below the Fair Market Rent (FMR) of $900 set for metro areas in fiscal year 2026. This gap suggests an opportunity for landlords to potentially increase their rental rates without alienating tenants. The median home value in ZIP 24868 is $37,588, reflecting a relatively affordable housing market. However, the median income of $30,259 may limit the purchasing power of potential homeowners, further supporting the viability of rental investments. Despite the lack of specific data on days on market (DOM) and the percentage of price-cut share, the disparity between market rent and FMR provides a strong indicator that rental properties can be profitable. Landlords should consider the lower median home value when setting initial purchase budgets, ensuring they align with the income levels of the area's residents. Additionally, the absence of high DOM and price-cut share percentages implies a stable rental market where properties are likely to remain occupied and maintain their value over time. For small-portfolio investors looking to enter the rental market, ZIP 24868 offers a balanced environment where rental income can complement property values. The verdict on Section 8 participation in this ZIP code is positive, given the alignment between the FMR and the program's payment standards, making it a viable option for landlords seeking stable, long-term tenancy.
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.