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 | $1,250 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $151,309 | 0.83% | C |
U.S. Census Bureau data (2024)
The ZIP code 24981 is situated in a rural setting, primarily encompassing the town of Bland, Virginia. With a modest population of 463 residents, this area reflects a tight-knit community where nearly half of the inhabitants—46.6%—are renters. The median income figure is currently unavailable, which suggests a lack of comprehensive economic data for this region. However, the median home value stands at $127,801, indicating an affordable housing market suitable for first-time buyers and those looking for a low-cost living environment.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $870. This figure is critical for Section 8 investors as it sets the benchmark for rental subsidies. Unfortunately, the exact market rent for ZIP 24981 is not available, making it challenging to compare against the FMR. Nevertheless, given the rural nature and low median home values, it's reasonable to assume that the market rents are likely close to or below the FMR level.
In evaluating whether ZIP 24981 fits a hands-off voucher operator or a hands-on value-add buyer, several factors come into play. The high percentage of renters indicates a demand for affordable housing options, which aligns well with the Section 8 program. For hands-off operators, the stability of the FMR and the presence of a consistent tenant base make this location a viable option. On the other hand, for hands-on investors looking to add value, the lack of detailed economic data and the potential for lower market rents could pose challenges in achieving higher returns through property improvements alone.
Ultimately, ZIP 24981 presents an opportunity for hands-off Section 8 investors seeking a stable, low-cost investment in a rural setting. The area's characteristics suggest a straightforward management scenario, ideal for those who prefer minimal landlord involvement. For value-add investors, while there might be untapped potential, the absence of robust economic indicators necessitates thorough local market research to identify opportunities for enhancing property value and rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.