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 analysis of ZIP code 24873 in McDowell County, WV, reveals several key points for landlords and small-portfolio investors.
First, regarding the rent math, the Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $870. However, the market rent is listed as N/A, which suggests that there might be limited data available on current rental prices. This discrepancy makes it challenging to definitively state whether the rent math works without further investigation into actual market conditions.
Second, the acquisition affordability is assessed based on the median home value of $49,942. The low median home value indicates that purchasing properties in this ZIP code could be relatively affordable. However, the lack of data on days on market (DOM) and the percentage of price-cut share means that we cannot fully evaluate the ease or difficulty of acquiring properties. Landlords should proceed with caution and seek additional local market insights before making any investment decisions.
Third, there is a notable tenant demand in the area. With a total population of 247 and a renter share of 21.3%, approximately 52 residents are likely seeking rental housing. This small but significant demand suggests that there is a manageable pool of potential tenants, though the size of the population limits the overall scale of investment opportunities.
In conclusion, while the low median home value of $49,942 in ZIP 24873 presents an affordable entry point for property acquisition, the uncertainty around market rent and other acquisition metrics poses risks. Additionally, the modest tenant demand, represented by a renter share of 21.3%, offers a niche opportunity for landlords willing to navigate a smaller market. Due to the limited data available, further research is necessary to make informed decisions about the viability of rental investments in this ZIP code.
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.