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 | $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 | $221,892 | 0.59% | F |
U.S. Census Bureau data (2024)
A landlord considering purchasing a property in ZIP code 24945 for Section 8 purposes must evaluate several factors based on the latest data available.
Step 1: Determine if the Fair Market Rent (FMR) of $870 can cover the debt service on a property valued at $199,718. This is critical because the FMR sets the upper limit for what the government will pay for a rental unit. If the monthly mortgage payment plus other expenses exceed $870, then the FMR does not clear the debt service, making it a financial risk. In this case, the FMR of $870 must be compared against the total monthly debt service cost of the property.
Step 2: Assess the market rent. The data indicates that the market rent is currently N/A, which means there is insufficient information to determine whether the market rent is above, at, or below the FMR. Without this data, a landlord cannot accurately gauge the potential to charge higher rents outside of Section 8. If the market rent is significantly above the FMR, landlords might consider diversifying their tenant mix to include non-Section 8 tenants who could pay more. However, if the market rent is below the FMR, the landlord would be better off focusing solely on Section 8 tenants to maximize income.
Step 3: Evaluate the demand for rental properties. With only 0.0% of renters in the area and an unknown number of days on the market (DOM), the demand appears very low. This suggests that finding tenants, even those eligible for Section 8, might be challenging. A low demand scenario means that landlords could face extended vacancy periods, reducing overall profitability.
The decision tree branches out as follows:
In conclusion, the purchase decision hinges on the ability of the FMR to cover debt service costs, the relationship between market rent and FMR, and the overall demand for rentals in ZIP 24945. Given the current data, especially the lack of market rent information and low demand, caution is advised when investing in this area for Section 8 purposes.
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.