Location: Boone County, WV | Metro: Boone County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 25021 presents a complex interplay between home values and rental market dynamics that signals a nuanced outlook for pricing power over the next 12-24 months. The median home value remains unspecified, indicating a potential lack of comprehensive data on recent transactions. However, the fact that an unspecified percentage of listings have been reduced points towards a sellers' market cooling off, suggesting that landlords and small-portfolio investors might need to adjust their expectations regarding home value appreciation.
The median days on market (DOM) also stands at an unspecified number, which could imply either a stable market where homes are selling within a reasonable timeframe or a market experiencing some slowdown, depending on the typical DOM for the area. This ambiguity makes it challenging to predict future trends definitively but suggests that patience may be required for successful sales.
On the rental side, the Fair Market Rent (FMR) for ZIP 25021 in fiscal year 2024 is set at $850, which provides a benchmark for evaluating market rents. If the current market rent is below this figure, there may be opportunities for modest increases, aligning with the FMR. Conversely, if the market rent already exceeds $850, landlords should consider maintaining competitive rates to attract tenants.
For long-term hold investors, the appreciation thesis in ZIP 25021 is not clearly defined due to the absence of specific historical data. However, given the cooling signs in the home listing reductions and the uncertain DOM, it's prudent to focus on rental income stability rather than rapid capital appreciation. Long-term investors should aim to balance their portfolios with properties that offer steady rental returns, ensuring they remain aligned with the FMR.
In summary, while the exact median home value and DOM figures are unavailable, the reduction in listings and the FMR of $850 for the rental market suggest a cautious approach to pricing. Landlords and small-portfolio investors should prepare for a period where rental income may provide a more reliable source of return than speculative gains in property value.
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.