Location: Charleston, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The ZIP code 25030 presents a dynamic rental market, particularly concerning Section 8 properties. With a Fair Market Rent (FMR) set at $850 for fiscal year 2024, landlords can expect a stable baseline for rental income from tenants participating in the Section 8 program. The absence of market rent data suggests that the local rental market may not be well-documented or could indicate that the FMR closely aligns with actual market rates, making it a reliable indicator for pricing units.
The lack of specific data on price-cut shares and days on market (DOM) implies that there might be limited turnover or competitive pricing strategies among landlords. This could mean that the market is relatively stable, with fewer units entering or leaving the rental pool. However, the incomplete data also suggests that there's room for deeper analysis to understand the full picture of the rental dynamics in this area.
A 13.8% renter share indicates a significant portion of the population relies on renting as their primary form of housing. This percentage can be indicative of long-term housing pressure, suggesting that many residents may find it challenging to purchase homes, possibly due to affordability issues or preference for renting. For small-portfolio investors, this highlights a steady demand for rental properties, especially those that qualify for Section 8 assistance.
The dynamics of the ZIP 25030 market suggest that while supply might meet demand currently, the high renter share points towards an ongoing need for affordable housing options. Landlords should consider the stability of the FMR and the potential for consistent occupancy rates given the reliance on rentals. This market is poised for those who can provide quality, affordable housing solutions, aligning well with the needs of the local population.
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.