Location: Raleigh County, WV | Metro: Raleigh County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP code 25180 for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $930 cover debt service on a property?
No. If your property's debt service exceeds $930 per month, then investing in ZIP 25180 would not be financially viable based on the FMR alone. Debt service includes mortgage payments, property taxes, insurance, and maintenance costs.
Yes. If your property's debt service is less than or equal to $930, proceed to the next question.
2) Is the market rent above, at, or below the FMR of $930?
Above. If the market rent is higher than $930, consider that you might be limited to only renting to tenants who qualify for Section 8, which could reduce your pool of potential tenants.
At. If the market rent is around $930, Section 8 tenants can cover your rental income without financial strain. However, you must still evaluate the demand for rentals in the area.
Below. If the market rent is below $930, it indicates that the local rental market is not fully utilizing the available FMR. This could mean either a lower cost of living or oversupply of rental units, both of which impact investment decisions.
3) Are the rental demographics sufficient, given 0.0% of residents are renters and N/A-day days on market (DOM)?
It depends. With 0.0% of residents being renters, it suggests there is little to no rental activity in ZIP 25180. The N/A-day DOM implies incomplete data, but generally, a high DOM indicates low demand. If you decide to invest despite these indicators, ensure you understand the local market dynamics and have a plan for attracting tenants.
No. Given the lack of renters and potentially low demand, it is unlikely that ZIP 25180 would be a good investment for Section 8 properties. Focus on areas with higher rental percentages and lower DOM to secure a steady stream of tenants.
In summary, the viability of purchasing a Section 8 property in ZIP 25180 hinges on the answers to these three questions. Ensure the FMR covers your debt service, assess how the market rent compares to the FMR, and finally, evaluate the rental demand in the area.
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.