Location: Greenbrier County, WV | Metro: Greenbrier County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 24991 in Greenbrier County, West Virginia, reveals that the HUD Fair Market Rent (FMR) for the area is set at $920 for fiscal year 2026. This figure represents the maximum amount that voucher holders can pay towards rent under the Section 8 program. However, without specific data on the current market rent for the area, it's challenging to provide a direct comparison. Based on the HUD FMR alone, voucher tenants will likely cashflow at this rate, meaning their rent payments will cover the landlord's costs and provide a profit.
To further understand the investment potential, consider the median home value in ZIP 24991, which stands at $192,740. Using the HUD FMR of $920, we can calculate a rent-to-price ratio, which indicates how much of a property's value can be recovered through rental income. The ratio here is approximately 0.5%, suggesting that rental income is a small portion of the total property value. This makes the property less attractive purely from a rental income perspective but does not diminish its appeal as a long-term investment.
Without specific data on the days-on-market (DOM) and the percentage of homes that have had price cuts, it's difficult to gauge the exact rent-versus-buy dynamics. However, given the lower rent-to-price ratio, buying a home in this area might be more advantageous for residents seeking stable housing over time. For investors, this implies a strong focus on stability and appreciation rather than immediate high returns from rental income.
The strongest investor angle in ZIP 24991 is likely stability. With a solid HUD FMR ensuring steady rental income and a relatively low median home value, investors can expect consistent cash flows and the potential for long-term property appreciation without the volatility often seen in higher-priced markets.
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.