Location: Greenbrier County, WV | Metro: Greenbrier County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The rental landscape in ZIP code 24916 presents a unique set of challenges and opportunities for landlords and small-portfolio investors. Given the median household income of $76,404, it's critical to assess how well these residents can afford housing at the prevailing market rates.
Unfortunately, the market rate data for this area is currently unavailable, which complicates a direct comparison with the median income. However, we can evaluate the situation against the Fair Market Rent (FMR) standards set by the government. For fiscal year 2026, the FMR for the metro area is $900. This figure represents the maximum amount that a Section 8 voucher holder can pay towards their rent, with the remainder subsidized by the program.
The low number of renters—0.0%—and the total population of 322 suggest a predominantly owner-occupied area. This could indicate limited competition among landlords for rental properties, but it also means a smaller pool of potential tenants. The affordability gap, where the median income does not align with the market rate or even the FMR, implies that many households might struggle to find suitable rental options without financial assistance.
For landlords considering their tenant mix, focusing on voucher recipients could be a strategic move. With the FMR set at $900, landlords would receive a guaranteed payment, albeit lower than the typical market rate. On the other hand, attracting cash-paying tenants could be challenging due to the limited number of renters and the potential mismatch between income levels and rental costs.
The takeaway for landlords is clear: while there may be less competition for rental units, the reliance on government subsidies such as Section 8 vouchers will likely be high. Landlords should weigh the benefits of steady, government-backed income against the administrative complexities of participating in the voucher program. In an area where cash-paying tenants are scarce, voucher holders provide a reliable source of income, ensuring that properties remain occupied and generating consistent revenue.
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.