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 economics of Section 8 housing in ZIP code 25169 are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) is set at $850 per month for fiscal year 2024. This SAFMR figure is specific to this ZIP code, reflecting the unique rental conditions here. The local market rent, based on Census ACS data, averages $942 per month.
A landlord participating in the Section 8 program receives payment from the Housing Choice Voucher Program to cover part of the rent. The total rent for a unit cannot exceed the SAFMR. If the market rent is higher than the SAFMR, the landlord does not receive the full market rent. Instead, the landlord receives the SAFMR amount minus the tenant's portion of the rent plus any utility allowances.
To break it down further, let's assume the tenant's portion of the rent is 30% of their adjusted income. If the tenant's adjusted income is $1,500, their portion would be $450 ($1,500 x 0.30). The remaining $400 ($850 - $450) would come from the Section 8 voucher program. Utility allowances can vary but typically add an additional $200 to the reimbursement for a two-bedroom unit. Therefore, the landlord would receive a total of $600 ($400 + $200) from the program.
In ZIP 25169, where the market rent is $942, the landlord would face a monthly reimbursement gap of $342 ($942 - $600). This means that landlords who participate in Section 8 for two-bedroom units in this ZIP code will have to accept a lower rent compared to the local market average. The reimbursement gap represents the difference between the market rent and the total amount received from the tenant and the voucher program.
Landlords must weigh the benefits of consistent, government-backed payments against the lower rents when deciding whether to accept Section 8 vouchers. In ZIP 25169, the typical reimbursement gap for a two-bedroom unit is $342 per month, indicating a significant financial consideration for property owners.
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.