Location: Boone County, WV | Metro: Boone County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $660 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 25142 stands as a market in motion, characterized by a Fixed Monthly Rent (FMR) set at $850 for fiscal year 2024. This figure, while definitive, offers only a glimpse into the rental landscape without comparative historical data. The lack of available market rent suggests either limited data collection or a nascent stage of rental activity in this area. With a 0.0% renter share, it becomes evident that homeownership is overwhelmingly prevalent in this community, indicating a potential long-term stability and resistance to rental market pressures.
The absence of price-cut share and days on market (DOM) statistics implies that there might be little negotiation or prolonged vacancy periods, which could point towards a strong seller's market. However, these missing metrics make it challenging to ascertain whether supply outpaces demand or vice versa. In a scenario where the median home value is also not provided, we can infer that the housing stock in ZIP 25142 is likely homogeneous, possibly consisting of properties that are either similarly valued or have a narrow range of values, thus not necessitating a broad median figure for analysis.
The high prevalence of homeownership, indicated by the 0.0% renter share, suggests that the area has been historically attractive to those seeking to buy rather than rent. This dynamic could imply that any future increases in housing pressure would be more likely to affect property values and sales rather than rental rates, as the population seems inclined towards long-term investment in real estate. For landlords and small-portfolio investors, this ZIP code presents an environment where rental offerings might need to be tailored to specific needs or niches to remain competitive.
In summary, ZIP 25142 appears to be a market dominated by homeownership, with a clear FMR benchmark set at $850 for the upcoming fiscal year. The dynamics here favor a stable, potentially seller-dominated real estate environment, with implications for rental strategies that must consider the unique preferences of this community.
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.