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 | $241,172 | 0.55% | F |
U.S. Census Bureau data (2024)
870 is the Fair Market Rent (FMR) for ZIP 24951 in metro FY 2026, indicating the maximum rental amount for a Section 8 voucher holder. Despite the N/A figure for market rent, which suggests incomplete data, the median home value stands at $221,142, providing a stable base for property investments. The renter share of 10.3% shows a modest but significant portion of the population relies on rental housing, supporting the demand for rental properties. With a median income of $70,559, residents have the financial capacity to afford reasonable rents, although the N/A-day DOM and N/A% price-cut share suggest challenges in accurately gauging the speed of sales and the necessity for price adjustments. These factors collectively paint a picture of a market where Section 8 properties can be a viable investment, especially given the fair market conditions and steady homeowner values. However, landlords must be prepared for potential fluctuations in market dynamics due to incomplete data on days on market and price-cut shares.
870 FMR aligns closely with the economic profile of the area, ensuring that landlords receive a competitive rate when participating in the Section 8 program. The relatively low renter share of 10.3% implies that while there is a segment of the population seeking rental options, it is not overwhelming, which could mean fewer applications and potentially longer vacancy periods. Nevertheless, the median income of $70,559 supports the ability of tenants to contribute their share of the rent, typically 30% of their income, which would be approximately $21,168 annually or $1,764 monthly. This contribution, combined with the FMR, ensures a solid rental income stream for landlords.
221,142 median home value indicates a stable housing market, which can provide security for long-term investments. Although the lack of precise market rent and days on market data introduces some uncertainty, the overall economic health of the area, as reflected by the median income, suggests that the risk is manageable. Landlords should focus on maintaining properties at or below the FMR to attract Section 8 tenants effectively.
Based on these figures, the verdict for Section 8 participation in ZIP 24951 is cautiously positive, with opportunities for steady returns balanced against the need for thorough property management practices.
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.