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 market analysis for Section 8 investors in ZIP code 25110, located in the Charleston, WV HUD Metro FMR Area, reveals a unique opportunity. The HUD Fair Market Rent (FMR) for the area is set at $1000 per month for the fiscal year 2024. However, due to the lack of recent market rent data, it's challenging to provide a direct comparison. Despite this, we can infer that voucher tenants will generally cashflow at the FMR level, given the typical behavior of rental markets in areas with similar economic profiles.
The median home value in the area stands at $74,160, which is quite low compared to national averages. This translates into a rent-to-price ratio that suggests properties in ZIP 25110 are undervalued relative to their rental income potential. In other words, the $1000 FMR represents a significant portion of the property's value, making it an attractive proposition for investors looking to maximize returns from rental income.
Regarding the days on market (DOM) and price-cutting percentages, there is insufficient data to make a precise assessment. However, these metrics are crucial in understanding the broader rent-versus-buy dynamics. A low DOM and a minimal percentage of price cuts indicate a robust seller's market, where rental properties are likely to be in high demand. Conversely, higher DOM and price-cutting percentages suggest a buyer's market, where owning a home might be more financially appealing than renting.
In summary, the strongest investor angle in ZIP 25110 is cashflow. Given the established FMR and the relatively low median home values, the potential for positive cash flow from Section 8 tenants is strong, especially when considering the rent-to-price ratio. This makes the area particularly attractive for those focused on generating consistent rental income.
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.