Location: Fayette County, WV | Metro: Fayette County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
870 dollars is the Fair Market Rent (FMR) for ZIP code 25118 as of fiscal year 2024, indicating the maximum amount a Section 8 tenant can be expected to pay for housing in this area. Despite the absence of specific market rent data, the 41.8 percent share of renters in the area suggests a significant portion of potential tenants may rely on government assistance. Without detailed information on median home values, it's clear that the economic landscape of ZIP 25118 leans heavily towards rental properties, especially those that cater to the needs of low-income families. The lack of data on median income implies a broader socioeconomic analysis is needed to fully understand the financial capabilities of residents. However, the fact that there is no Day on Market (DOM) figure available could indicate either a steady flow of property transactions or a less active market in terms of turnover. Similarly, the absence of a percentage for price-cut shares might suggest that landlords in this area maintain stable pricing strategies, or that the market is relatively uncompetitive. Given these insights, it's evident that the demand for rental properties in ZIP 25118 is substantial, driven largely by the high proportion of renters who may require Section 8 vouchers. Landlords and small-portfolio investors should consider the 870 dollar FMR as a benchmark for setting rents that align with government guidelines and ensure compliance while maximizing profitability. This ZIP code presents an opportunity for those willing to navigate the intricacies of the Section 8 program, given the strong tenant base that relies on such assistance.
Section 8 verdict: Suitable for investors willing to adhere to the 870 dollar FMR guidelines.
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.