Location: Monroe 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 | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $140,801 | 0.69% | D |
| 3BR | $1,340 | $183,795 | 0.73% | D |
U.S. Census Bureau data (2024)
The classification of ZIP 24941, Gap Mills, WV, on the axes of yield and stability reveals a unique market scenario. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $900, while the local market rent stands at $778. This indicates a lower yield potential compared to other areas that might see their market rents align more closely with the FMR. However, the discrepancy between the FMR and the actual market rent suggests a conservative estimate, which could be beneficial for landlords seeking to avoid overpricing.
The median home value in this ZIP code is $146,812, providing a significant base for property investment. When considering the rental income, the gap between the FMR and the market rent means that the annual rental income would be approximately $9,336 ($778 * 12 months), assuming a full-year occupancy. This represents an annual yield of about 6.3% based on the median home value, placing it in a moderate yield category.
On the stability axis, the market shows signs of both strengths and weaknesses. With only 17.4% of residents being renters, the competition for tenants could be relatively low, indicating a stable demand for rental properties. However, the lack of data on days on market (DOM) makes it challenging to assess the speed at which properties can be rented out. Additionally, the average household income of $62,600 suggests that there is a reasonable financial capacity among residents to pay rent, though this figure is not exceptionally high.
Given these figures, ZIP 24941 leans towards a steady-cashflow zone rather than a high-yield/low-stability market. The moderate rental income relative to property values and the stable tenant population suggest a reliable but not highly lucrative investment opportunity. Landlords and small-portfolio investors should consider the lower yield in conjunction with the stable demand for rentals when deciding whether to invest in this area.
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.