Location: Wyoming County, WV | Metro: Wyoming County, WV
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $56,992 | 1.65% | A+ |
| 3BR | $1,280 | $83,571 | 1.53% | A+ |
| 4BR | $1,290 | $103,546 | 1.25% | A |
U.S. Census Bureau data (2024)
ZIP 24870, located in Oceana, WV, within Wyoming County, WV metro, presents itself as an ideal cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the area is set at $870 for fiscal year 2026, which exceeds the current market rent of $842. This positive spread ensures that landlords can consistently receive higher rental payments through the Section 8 program compared to the local market rates.
The median home value in ZIP 24870 stands at $69,514, indicating that the properties in this area are relatively inexpensive. This makes it easier for landlords to acquire properties without significant upfront investment, while still benefiting from the guaranteed rental income provided by the Section 8 program. The difference between the FMR and the market rent is $28 per unit, providing a reliable cushion against potential market fluctuations.
ZIP 24870 does not present strong indicators for being an appreciation play. There is no significant percentage increase expected in property values, and the days on market (DOM) and price-cut share metrics are not provided, suggesting a stable but unremarkable real estate market. Therefore, the primary focus should be on maintaining steady cash flow rather than capital appreciation.
While the zip code offers a moderate diversification opportunity, with 23.8% of the population being renters and a median income of $45,011, these factors do not outweigh the benefits of using it as a cash-flow anchor. The renter share indicates a reasonable demand for rental housing, but the median income figure suggests that the majority of residents are likely to qualify for the Section 8 program, further solidifying the case for consistent, government-backed rental payments.
In conclusion, ZIP 24870 is best suited as a cash-flow anchor in a Section 8 portfolio due to the favorable spread between the FMR and market rents, coupled with the low cost of acquiring properties in the area. Landlords and small-portfolio investors should prioritize this aspect when considering the inclusion of properties in this zip code within their investment strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.