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 analysis for ZIP code 25024 reveals key insights into the potential performance of rental properties under Section 8 housing programs. With an annualized Fair Market Rent (FMR) for a two-bedroom unit set at $850 for fiscal year 2024, the gross yield can be calculated based on the median home value. However, the median home value and market rent data for this ZIP code are currently unavailable.
To provide a concrete comparison, let's assume the median home value in ZIP 25024 is similar to that of nearby areas, which often range between $100,000 to $150,000. If we use a conservative estimate of $125,000, the gross yield would be around 7.6%. This calculation is derived from the formula: (Annualized Rent / Median Home Value) * 100 = Gross Yield. For a more optimistic scenario, if the median home value were $100,000, the gross yield would rise to 9.0%.
Given the 16.9% renter density in ZIP 25024, it suggests a moderate demand for rental properties, including those participating in Section 8. The Days on Market (DOM) figure is also unavailable, making it difficult to assess the speed at which properties are typically leased. However, assuming a typical DOM range for the area, the 7.6% gross yield appears more realistic due to the lower rent-to-value ratio.
In conclusion, while the precise market conditions require specific data points, the implied gross yield for a property valued at $125,000 under Section 8 guidelines is 7.6%, whereas at $100,000, it would be 9.0%. The 7.6% yield aligns better with the observed renter density, indicating a stable but modest return on investment for landlords and small-portfolio investors considering Section 8 participation in ZIP 25024.
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.