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 market in ZIP code 25165 is currently defined by a specific set of metrics that provide insight into its dynamics. The Fair Market Rent (FMR) for the area stands at $850 for the fiscal year 2024, indicating a stable rental environment. However, the lack of available market rent data suggests that the official FMR may be a key benchmark for landlords and investors in setting their own rent prices.
The median home value of $89,702 reflects a relatively affordable housing market, which could attract both buyers and renters seeking cost-effective options. This figure, combined with the FMR, suggests that there might be a balance between the two markets, but without specific price-cut shares or days on market (DOM) data, it's challenging to determine if supply is outpacing demand or vice versa.
With a renter share of 9.8%, the ZIP code reveals a low proportion of renters relative to homeowners. This low percentage implies that the majority of residents prefer owning their homes over renting, which can be indicative of long-term housing stability and lower pressure on the rental market. However, it also suggests that any increase in rental demand could have a significant impact on the limited rental stock, potentially driving up rents and creating opportunities for landlords who can offer quality properties at competitive rates.
The absence of detailed market indicators such as price-cut shares and DOM leaves some uncertainty about the immediate market conditions. Nonetheless, the overall picture points towards a market where homeownership is prevalent, and the rental sector operates under less pressure compared to areas with higher renter shares. Landlords and small-portfolio investors should consider these factors when evaluating potential investments or rental strategies in ZIP 25165.
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.