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 ZIP code 25028, located in Boone County, West Virginia, serves as a critical component in a Section 8 portfolio strategy, specifically functioning as a cash-flow anchor. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $850, which provides a stable baseline for rental income. Given that the market rate is currently unavailable, the FMR acts as a reliable and predictable revenue stream for landlords.
The median home value in ZIP 25028 stands at $58,974, indicating a relatively affordable housing market. This affordability aligns well with the average income levels in the area, where the median income is $52,944. Such alignment ensures that tenants can comfortably afford their rents, reducing the risk of non-payment and increasing the likelihood of long-term tenancy stability.
The low renter share of 2.5% suggests that the majority of residents in this ZIP code are homeowners, which can be advantageous for landlords. With fewer rental properties available, demand for rental units tends to be higher, leading to less competition and potentially higher occupancy rates. This scenario supports the idea of ZIP 5028 serving as a cash-flow anchor, as landlords can rely on steady rental income without the need for frequent tenant turnover.
In summary, ZIP 25028 is best suited as a cash-flow anchor within a Section 8 portfolio due to its stable FMR, reasonable home values, and moderate income levels that support consistent tenant payment patterns. Landlords should expect a dependable income source with minimal risk of vacancy or default.
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.