Location: Summers County, WV | Metro: Monroe County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The ZIP code 24985 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $870 for fiscal year 2026, which could lead to vacancies and financial instability. The vacancy exposure is heightened by the lack of data on days on market (DOM), indicating potential difficulty in filling units promptly. Additionally, the risk of deferred maintenance is elevated because of the unknown typical home values and a relatively low median income of $75,104, suggesting tenants might struggle to afford necessary repairs.
However, these risks must be weighed against the substantial 17.2% renter share in the area, which typically correlates with higher demand for housing vouchers. This high density of renters can provide a steady stream of Section 8 tenants, mitigating some of the financial risks associated with vacancy and turnover.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 24985 is moderate.
Data Sources: FMR data from HUD (2027). 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.