Location: Charleston, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 25107, Bloomingrose, WV, in fiscal year 2024 is set at $1000. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the maximum amount that a landlord can receive from the government for renting a unit to a tenant participating in the program. It does not represent the total rent you would charge your tenants; rather, it's the ceiling for the government subsidy.
To put this into perspective, consider the average rent for the area. According to recent Census data, the median gross rent in Bloomingrose, WV, is $586. This means that the FMR of $1000 is significantly higher than the typical rent, potentially offering a better return on investment for landlords who participate in the Section 8 program.
The demand for rental properties in Bloomingrose is relatively stable, with approximately 17.0% of residents being renters. This indicates a consistent market for rental housing, making it likely that there will be a steady pool of potential tenants who could benefit from Section 8 vouchers.
When looking to acquire a property in this area, keep in mind that the median home value is around $94,855. This suggests that purchasing a rental property in Bloomingrose can be quite affordable compared to other areas, especially when considering the potential for receiving the higher FMR rate through the Section 8 program.
Before committing to a Section 8 rental, verify that the property meets all the necessary quality standards set by the Housing Authority. These standards ensure that the property is safe, decent, and sanitary, and failing to meet them can result in reduced payments or even termination from the 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.