Location: Charleston, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 25133 are straightforward. The SAFMR (Standard Amount for Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $850. This figure represents the maximum amount that the Housing Choice Voucher Program will pay for a two-bedroom rental unit in ZIP 25133.
Local market rents are currently unavailable, which makes it challenging to compare the SAFMR with the average rent charged in the area. However, the SAFMR serves as a critical benchmark for landlords participating in the program.
A voucher payment consists of two parts: the tenant's portion and the utility allowance. The tenant is typically responsible for paying 30% of their adjusted monthly income towards rent. If a tenant's adjusted monthly income is $1,000, they would contribute $300 towards the rent. The remaining amount, up to the SAFMR, is covered by the voucher. In this case, the voucher would cover $550 of the rent, assuming the full SAFMR is utilized.
In addition to the rent subsidy, the voucher also includes an allowance for utilities. Utility allowances can vary but are usually a fixed amount per bedroom. For a two-bedroom apartment, the utility allowance might be around $150, though this can differ based on local standards. Therefore, the total reimbursement a landlord receives from a voucher for a two-bedroom unit could be approximately $700 ($550 for rent + $150 for utilities).
This means that if the SAFMR is $850 and the voucher covers $700, there is a reimbursement gap of $150. Landlords must decide whether this gap is acceptable or if they need to adjust their rental strategies to account for this difference. If the local market rent is higher than the SAFMR, landlords will face a larger gap. Conversely, if the local market rent is lower, landlords may see a surplus.
To summarize, in ZIP code 25133, the SAFMR for a two-bedroom apartment is $850, and the typical voucher reimbursement, including utilities, is around $700, leading to a reimbursement gap of $150. This economic reality shapes the decisions landlords make when renting to tenants with vouchers.
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.