Location: Fayette County, WV | Metro: Fayette County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 25040 in Fayette County, WV, reveals several key points that landlords and small-portfolio investors should consider.
Firstly, regarding the rent math, the Family Monthly Rent (FMR) for the area is set at $870 for fiscal year 2024. However, the market rent data is currently unavailable, which makes it challenging to directly compare the two figures. This absence of market rent data suggests that further investigation is necessary to determine if the rent math aligns favorably with the FMR.
Secondly, the acquisition affordability in ZIP 25040 is unclear due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that have been subject to price cuts. Without these details, it's difficult to assess whether purchasing properties in this area would be financially prudent for investors.
Lastly, there is a notable tenant demand in the area. With a population of 648 residents and 24.3% of them being renters, there is a significant portion of the community seeking rental housing. This indicates that there is a steady stream of potential tenants who could occupy properties in the area.
In summary, while there is a clear tenant demand in ZIP 25040, the viability of the rent math and the affordability of property acquisitions remain uncertain due to missing data on market rents, median home values, DOM, and price-cut shares. Investors must conduct thorough research to fill these gaps before making any decisions. The FMR of $870 provides a baseline for rent expectations, but market conditions must be evaluated to ensure profitability.
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.