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 Section 8 program in ZIP code 25134 is based on a significant financial discrepancy between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR for ZIP 25134 is set at $1000. However, the market rent is currently not available, indicating either a lack of recent data or an unusual situation where market rents haven't been reported.
In the absence of market rent data, it's crucial to understand that the FMR is a benchmark used by the U.S. Department of Housing and Urban Development (HUD) to determine payment standards for Section 8 vouchers. This figure is designed to reflect the average rent for a standard unit in the area and is often lower than the actual market rate due to HUD's conservative approach to setting these standards.
The gap between FMR and market rent, when present, can be a deciding factor for landlords and small-portfolio investors. In ZIP 25134, if the market rent exceeds $1000, landlords accepting Section 8 tenants would be receiving below-market-rate rents, which could result in lower yields compared to renting to non-voucher holders. The exact cost of this difference cannot be quantified without market rent data, but it's important to note that the gap represents a direct impact on rental income.
ZIP 25134 has a unique profile with 0.0% of residents identified as renters, suggesting a predominantly owner-occupied area. The median income stands at $150,366, indicating a relatively high-income demographic. These factors imply that there might be limited demand for rental properties, including those participating in the Section 8 program. Given this context, landlords must carefully consider whether the benefits of stable, government-backed rental income outweigh the potential drawbacks of renting below market rates.
To summarize, the key figure to watch is the $1000 FMR for ZIP 25134, which will directly influence the rental payments for landlords who accept Section 8 tenants. Without market rent data, it's challenging to provide a precise percentage gap, but the implications for rental yields and property management costs are clear. Landlords should weigh the advantages of consistent income against the potential loss of higher market rents.
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.