Location: Raleigh County, WV | Metro: Raleigh County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 25062 in fiscal year 2024 is set at $930. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program for this area. It's important to note that this is not the actual rent that tenants will pay; instead, it's the payment standard used by the housing authority to determine the subsidy amount.
In comparison to the local market, the FMR of $930 provides a benchmark for rental pricing. However, the local median rent for similar units is currently listed as N/A, which suggests that there might be limited data available on typical rental prices in this specific ZIP code. This makes the FMR an even more critical reference point for setting your rental rates.
The 4.3% renter share indicates the proportion of income that renters in this area typically allocate towards housing costs. This percentage reflects a moderate level of demand for rental properties, as it suggests that most residents have enough disposable income to cover their rent without significant financial strain. However, given the low renter share, landlords should be aware that tenants may be sensitive to price increases and prefer stable, affordable options.
Regarding the acquisition cost of properties in ZIP 25062, the data is also listed as N/A, making it difficult to provide a precise estimate. Landlords and small-portfolio investors should research local real estate trends and consult with local realtors or property appraisers to get a clearer picture of property values and purchase prices.
Before committing to a Section 8 rental in ZIP 25062, ensure that your property meets all the required standards set by the housing authority. These standards include health and safety inspections, and failing to meet these criteria could result in reduced subsidies or even disqualification from the program. The FMR of $930 will cover the majority of your rental income, but you must also account for any additional costs such as utilities and maintenance, which are not included in this figure.
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.