Location: Charleston, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $680 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
In ZIP code 25019, the Section 8 economics are defined by the SAFMR (Small Area Fair Market Rent) which is set specifically for this ZIP code. For a two-bedroom apartment, the SAFMR for FY 2024 is $850. This figure represents the maximum amount that the housing authority will pay towards the rent for eligible tenants.
The SAFMR is lower than the local market rent, which currently does not have a specified value due to insufficient data. However, it's important to understand how the SAFMR translates into actual payments to landlords when considering the Section 8 program.
A voucher payment under Section 8 consists of two parts: the subsidy paid directly to the landlord and the tenant's contribution. The tenant is typically responsible for paying 30% of their adjusted income towards rent. Additionally, there are utility allowances that can vary based on the type of unit and location. For ZIP 25019, these allowances would be included in the total payment calculation but are not explicitly detailed here.
To illustrate, if the SAFMR is $850 and the tenant contributes 30% of their income, say $255, then the housing authority would pay the difference between the SAFMR and the tenant's contribution. In this case, the housing authority would pay $595 ($850 - $255).
The utility allowance is an additional sum that covers the cost of utilities for the tenant. This amount is added to the housing authority's payment. If we assume a utility allowance of approximately $100, the total payment to the landlord would be $695 ($595 + $100).
This means that landlords in ZIP 25019 who participate in the Section 8 program will receive a reimbursement of $695 per month for a two-bedroom unit, assuming the given tenant contribution and utility allowance. Given the SAFMR of $850, the reimbursement gap or surplus for a landlord would depend on whether they charge less than or more than the SAFMR.
If the market rent exceeds the SAFMR, landlords may experience a reimbursement gap where they do not receive the full market rent. Conversely, if the market rent is below the SAFMR, landlords might see a surplus where the voucher covers more than the tenant's share of the rent.
In ZIP 25019, the reimbursement gap or surplus for a two-bedroom unit would be calculated as follows: if the market rent is higher than $850, the landlord must cover the difference; if it is lower, the landlord receives the full market rent plus any surplus up to the $850 limit.
Therefore, landlords should carefully consider their rent pricing strategies to ensure participation in the Section 8 program aligns with their financial goals.
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.