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 economics of Section 8 in ZIP code 25049 are straightforward. For a two-bedroom rental unit, the SAFMR (Small Area Fair Market Rent) is set at $850 per month for the fiscal year 2024. This figure is specific to this ZIP code, reflecting localized housing costs.
A landlord might wonder what exactly a voucher covers. Here's the breakdown: the tenant is responsible for paying 30% of their adjusted income towards rent. If we assume an average monthly adjusted income of $1,700, the tenant would pay approximately $510 towards rent. The remaining amount, up to the SAFMR of $850, is covered by the Housing Choice Voucher program.
In addition to the base rent, the voucher also includes utility allowances. These vary but can typically range from $150 to $200 per month, depending on the actual utility expenses incurred by the tenant. Therefore, if we take the higher end of the utility allowance at $200, the total reimbursement from the voucher program would be around $710 ($510 for rent + $200 for utilities).
This means there is a reimbursement gap. Landlords will receive $710 from the voucher program, leaving a shortfall of $140 against the SAFMR of $850. In essence, landlords will not fully recoup the SAFMR with the voucher payment alone. They must decide whether the guaranteed payment and stable tenancy outweigh the financial gap.
To summarize, in ZIP 25049, the typical reimbursement for a two-bedroom voucher is $710, resulting in a $140 reimbursement gap compared to the SAFMR. This economic reality shapes the decision-making process for landlords considering participation in the Section 8 program.
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.