Location: Fayette County, WV | Metro: Fayette County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
870 is the Fair Market Rent (FMR) for ZIP code 25173 as of fiscal year 2024, setting a clear benchmark for rental properties in the area. 0.0% represents the share of renters in this ZIP code, indicating a predominantly owner-occupied community. With the market rent data marked as N/A, it's crucial for landlords to rely on the FMR of $870 to ensure their rental rates align with HUD guidelines. The median home value is also listed as N/A, suggesting limited data on property values which could be due to the low renter share. Similarly, the median income figure is unavailable, making it challenging to assess the overall economic health of the area without additional context. The days on market (DOM) data being N/A implies a lack of recent sales activity, which might indicate a stable housing market with fewer turnovers. The percentage of price-cut shares stands at N/A%, further supporting the notion of a steady market where price adjustments are infrequent. Given these conditions, landlords and small-portfolio investors should focus on maintaining properties at the FMR level to attract Section 8 tenants. 0.0% renter share suggests that finding eligible tenants might be competitive, necessitating adherence to quality standards and timely maintenance. In conclusion, while there is limited data to fully evaluate the market, the $870 FMR remains the key figure for compliance and profitability. Verdict: Suitable for Section 8 investment if properties meet quality criteria.
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.