Location: Greenbrier County, WV | Metro: Greenbrier 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 | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,230 | $227,537 | 0.54% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 24931 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2026 is set at $940. This figure represents the maximum amount that the Housing Choice Voucher program will pay towards the rent for a two-bedroom unit in this area. However, it's important to understand that the total reimbursement to landlords does not stop at the SAFMR; it includes additional components such as the tenant's portion of the rent and utility allowances.
The local market rent, based on Census ACS data, is slightly lower at $924. This indicates that the SAFMR is above the average market rent, which can be beneficial for landlords who might otherwise struggle to cover their costs.
A voucher payment consists of several parts:
To illustrate, let's assume a utility allowance of $200. In this case, the total reimbursement to the landlord would be $690 ($490 voucher portion + $200 utility allowance). If the landlord charges the SAFMR of $940, the landlord would receive the full $940 from the voucher program plus the tenant's $450 contribution, totaling $1,390 before considering any utility allowance.
The reimbursement gap or surplus occurs when comparing the voucher payment to the actual market rent. In ZIP 24931, where the market rent is $924, a landlord charging the SAFMR of $940 would have a small surplus of $16 per unit, assuming the tenant pays their full 30% contribution. This surplus is before accounting for utility allowances, which further increase the landlord's total revenue.
In summary, landlords in ZIP 24931 participating in the Section 8 program can expect a total reimbursement of around $690 to $940 for a two-bedroom unit, depending on the tenant's income and the utility allowance. With the SAFMR exceeding the local market rent, landlords typically see a slight surplus, making Section 8 a stable and predictable source of rental income.
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.