Section 8 Fair Market Rent (FMR) for ZIP 24869 - 2027
Location: Wyoming County, WV | Metro: Wyoming County, WV
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 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$42,188
To determine if you should invest in ZIP code 24869 for Section 8 properties, follow this decision tree:
- Does FMR ($870) clear debt service on a property?
- If you can find a property where the debt service is less than or equal to $870 per month, then the answer is Yes. This means that the Fair Market Rent (FMR) can cover your mortgage payments, insurance, and other expenses associated with the property.
- If the debt service exceeds $870 per month, then the answer is No. The FMR will not be sufficient to cover all your financial obligations for the property.
- Is market rent above, at, or below FMR?
- If the market rent is below $870, then the answer is Yes. This indicates that you could potentially charge market rent while still being under the FMR, making the property attractive to both regular tenants and those eligible for Section 8.
- If the market rent is exactly $870, then the answer is It Depends. You would need to consider other factors such as vacancy rates, competition, and the overall economic outlook of the area before making a decision.
- If the market rent is above $870, then the answer is No. Section 8 tenants would not be able to afford the higher market rents, limiting the pool of potential tenants.
- Are 0.0% renters and N/A-day days on market (DOM) enough demand?
- The data shows that there are currently 0.0% renters and an unspecified number of days on market (DOM), which suggests very low demand. Therefore, the answer is No. The lack of rental demand makes it unwise to invest in this ZIP code for Section 8 properties, as you may struggle to find tenants.
In summary, investing in ZIP code 24869 for Section 8 properties is only advisable if the debt service is covered by the FMR and the market rent is below the FMR. However, given the current low demand, it is unlikely that this investment will be profitable.
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.