Location: Roane County, WV | Metro: Charleston, WV HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $99,116 | 1.03% | B |
| 3BR | $1,310 | $157,969 | 0.83% | C |
| 4BR | $1,390 | $190,652 | 0.73% | D |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $980 for ZIP 25045 (Clendenin, WV) in fiscal year 2024 will sufficiently cover the mortgage on a home priced at $130,739. To assess this, we must consider current mortgage rates. According to recent data, the average 30-year fixed mortgage rate is approximately 6.5%. On a home loan of $130,739, this would translate to a monthly mortgage payment of roughly $820, excluding property taxes and insurance. Thus, the FMR of $980 is adequate to cover the mortgage and leaves room for additional expenses.
The investor may also doubt if there is sufficient rental demand in Clendenin, given that only 17% of the population are renters. However, the rental market in ZIP 25045 appears modest but stable. There are currently 121 apartments and rental properties listed for rent, which suggests a steady demand for rental units. While the percentage of renters is relatively low, it indicates that those who rent are likely to be price-sensitive and may prefer the lower rental costs typical of this area.
Another concern could be whether housing vouchers will keep pace with the market rents of $903. Unfortunately, the data does not provide a direct comparison between voucher amounts and market rents for ZIP 25045. However, it's worth noting that the average income in Clendenin is $18,504 per year, indicating that many residents rely on assistance programs. Landlords should ensure they understand the process and requirements for accepting housing vouchers, as this can be a reliable source of income even if the exact amount isn't always clear.
In summary, while the data provides some clarity on the adequacy of FMR to cover mortgage payments and the presence of a rental market, it lacks specific details on how housing vouchers compare to market rents. Investors should carefully evaluate these factors before deciding to invest in ZIP 25045.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.