Location: McDowell County, WV | Metro: McDowell County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 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 economics of Section 8 in ZIP code 24879 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $900 for the fiscal year 2026. This figure represents the maximum amount that the housing authority will pay toward the rent for a two-bedroom unit under the Section 8 program.
To understand what a landlord can expect from a voucher, it's crucial to factor in the tenant portion and utility allowances. Typically, the tenant is responsible for paying approximately 30% to 40% of their adjusted monthly income toward rent. For instance, if the tenant's adjusted monthly income is $1,500, they would contribute around $450 to $600 towards the rent. Utility allowances vary but generally range from $150 to $250 per month, depending on the specific circumstances and needs of the tenant.
Once these contributions are accounted for, the actual reimbursement to the landlord can be calculated. Assuming the tenant contributes $500 and receives a utility allowance of $200, the total reimbursement from the housing authority would be $900. Therefore, the landlord would receive a total of $700 to $900 per month, which includes the tenant's contribution and any applicable utility allowances.
In ZIP 24879, there is no specific local market rent data available, which means landlords must rely on the SAFMR to gauge their potential earnings. Given the SAFMR of $900, if a landlord charges $900 or less, the reimbursement will cover the full rent amount plus any utility allowances. However, if the landlord sets the rent above $900, the excess amount must be paid directly by the tenant, making it less attractive for them.
The typical reimbursement gap or surplus for a two-bedroom voucher in ZIP 24879 can be assessed based on the SAFMR and the average tenant contribution. With the SAFMR at $900 and an average tenant contribution of $500, the landlord can expect a reimbursement of $700 to $900 per month. If the local market rent is higher than $900, landlords will face a gap between the SAFMR and the market rent. Conversely, if the market rent is lower, landlords may see a surplus in their rental income compared to the cost of maintaining the property.
To summarize, landlords in ZIP 24879 should set their rents strategically to balance the benefits of stable, government-backed payments with the realities of the local rental market. A voucher holder will ensure timely payments, but the overall income might be less than what could be achieved in a non-voucher situation, depending on the market conditions.
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.