Location: Summers County, WV | Metro: Monroe 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 | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $228,865 | 0.58% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 24918 stands at $63,594, which places significant constraints on the financial capabilities of households seeking rental housing. The market rate for renting, according to Census ACS data, is $667 per month. This figure represents a substantial portion of the average household's income, making it challenging for residents to find affordable housing options without assistance.
Comparatively, the Fair Market Rent (FMR) set by HUD for metro areas in fiscal year 2026 is $870, notably higher than the current market rate. This discrepancy highlights the struggle many renters face in finding homes that match their budget, especially when considering the FMR as a benchmark for affordability. Given that only 21.3% of the 1,420 population are renters, the competition for tenants is likely to be fierce among landlords, particularly those who do not offer Section 8 vouchers.
The affordability gap in ZIP 24918 means that landlords must carefully consider their tenant acquisition strategies. Offering Section 8 vouchers can be a viable solution for attracting and retaining tenants who might otherwise be priced out of the market. However, accepting voucher payments at the FMR level of $870 requires landlords to either offer slightly above-market-rate units or to compete on factors other than price, such as location or amenities.
For landlords evaluating between voucher and cash-pay strategies, the key takeaway is clear: Section 8 vouchers can provide a steady stream of tenants willing to pay up to $870 per month, which exceeds the current market rate of $667. This strategy can mitigate the risk of vacancy and ensure a more predictable revenue stream. Yet, landlords should also be prepared to manage the administrative requirements associated with voucher programs, balancing these considerations against the benefits of a more stable tenant base.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.