Section 8 Fair Market Rent (FMR) for ZIP 25011 - 2027
Location: Putnam County, WV | Metro: Putnam County, WV HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$94,375
To determine if a landlord should buy in ZIP code 25011 for Section 8 purposes, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $910 cover debt service on a property?
- No: If the FMR does not clear the debt service, purchasing a property in this area for Section 8 would not be financially viable. The landlord must ensure that the rental income meets or exceeds the costs associated with owning the property.
- Yes: Proceed to the next question.
2) Is the market rent of $842 above, at, or below the FMR?
- Below FMR: The market rent being lower than the FMR suggests that Section 8 tenants could potentially offer better financial stability compared to market-rate tenants. This makes the area more attractive for Section 8 investment.
- Above FMR: If the market rent exceeds the FMR, landlords might find it more profitable to rent to non-Section 8 tenants. However, if the goal is specifically to cater to Section 8 tenants, the higher market rent does not necessarily negate the opportunity.
- At FMR: Market rent aligning with the FMR means that Section 8 tenants will pay the same as market-rate tenants. This scenario provides a balanced view, where the decision should be based on other factors such as tenant demand and property management considerations.
3) Are 18.8% of residents renters, and is the days-on-market (DOM) sufficient to meet demand?
- It Depends: With 18.8% of residents being renters, there is a notable demand for rental properties. However, without knowing the DOM figure, it's difficult to assess if the demand can be met efficiently. A low DOM indicates quick turnover and high demand, which is favorable. Conversely, a high DOM suggests slower demand, making the investment less attractive.
The decision to invest in ZIP 25011 for Section 8 properties hinges on these key factors. Landlords should carefully evaluate their financial goals and the specifics of the local rental market before proceeding.
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.