Location: Boone County, WV | Metro: Boone County, WV HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,260 | $127,802 | 0.99% | C |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 25154 in Boone County, WV, for fiscal year 2024 is set at $850. This figure represents the maximum amount that landlords can charge for a voucher tenant under the Section 8 program. However, due to the lack of current market rent data for this area, it's challenging to provide a direct comparison. Nonetheless, based on the HUD FMR, landlords can expect their properties to cashflow positively when rented out at $850 per month, assuming typical operating costs.
To further analyze the investment potential, consider the median home value in ZIP 25154, which stands at $94,775. This allows us to derive a rent-to-price ratio. Given a monthly rent of $850, the annual rent would be $10,200. Dividing this by the median home value gives a rent-to-price ratio of approximately 10.76%. This suggests that rental income is relatively low compared to property values, which could indicate a stronger focus on appreciation rather than cash flow for investors.
The days on market (DOM) and price-cut share data are currently unavailable, but they are crucial indicators for understanding the local real estate market's health and how quickly properties are moving. If the DOM were shorter and price-cut shares lower, it would imply a more robust rental market and potentially better cash flow opportunities. Conversely, longer DOM and higher price-cut shares might suggest a buyer's market where appreciation could be more challenging to achieve.
In summary, while the current HUD FMR supports positive cash flow for landlords renting at $850, the low rent-to-price ratio indicates that appreciation is likely the strongest investor angle in ZIP 25154. Stability in the form of guaranteed rent payments through the Section 8 program also provides a solid foundation for investment, especially given the limited market data available.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.