Location: Monroe County, WV | Metro: Monroe County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,260 |
| 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)
In ZIP code 24993, the Section 8 program operates under specific economic guidelines that affect both landlords and tenants. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $870. This figure represents the maximum amount that the housing authority will pay towards a tenant's rent under the Section 8 program.
The SAFMR is crucial because it is based on the local rental market conditions and is designed to reflect the actual rents charged for decent, safe, and sanitary housing in the area. However, the local market rent for a two-bedroom apartment in ZIP 24993 is currently not available, which means we must rely on the SAFMR to guide our analysis.
A landlord participating in the Section 8 program receives payments from the housing authority. These payments cover the majority of the rent, but not all. Tenants are required to contribute a portion of their income towards the rent, typically 30% of their adjusted monthly income. In addition to the base rent, there are utility allowances which can vary but are usually included in the total reimbursement calculation.
To illustrate, if a landlord sets the rent at $870 for a two-bedroom unit, and the tenant's contribution is calculated at 30% of their adjusted income, the housing authority would make up the difference to ensure the total payment does not exceed the SAFMR. For example, if the tenant's portion is $200, then the housing authority would pay the remaining $670. Utility allowances, if applicable, would be added to this amount, but they do not change the base rent calculation.
The SAFMR being set specifically for ZIP 24993 means that the reimbursement rates are tailored to the rental costs in this particular area, rather than being uniform across a larger metropolitan or county region. This specificity helps to ensure that the reimbursement rates are realistic and reflective of the local rental market.
Given these parameters, landlords in ZIP 24993 can expect a reimbursement gap if they charge more than the SAFMR, or a surplus if the local market rent is lower than the SAFMR. With the SAFMR at $870 and the local market rent currently unavailable, landlords should set their rents carefully to maximize their income while ensuring compliance with the program's rules. If the local market rent is below $870, landlords could potentially receive the full SAFMR rate, leading to a surplus. Conversely, if the market rent exceeds $870, landlords will face a reimbursement gap, receiving only up to $870 from the housing authority plus the tenant's contribution.
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.