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 | $700 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $74,201 | 1.74% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 25193, located in Boone County, West Virginia, is an ideal cash-flow anchor for a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) set by HUD for fiscal year 2024 and the actual market rent in the area. The HUD FMR for a two-bedroom apartment in this ZIP code is $1020, while the current market rent is only $596. This means that landlords can receive a substantial subsidy of $424 per month for each Section 8 tenant, making it highly profitable to maintain these units in their portfolio.
In addition to the favorable rent spread, the median home value in ZIP 25193 is relatively low at $69,595. This indicates that the area has limited potential for property appreciation, which aligns with the cash-flow anchor classification. Landlords should not expect rapid increases in property values, but they can rely on steady, government-backed rental income that exceeds market rates.
The ZIP code also has a 25.6% renter share, which is moderate and suggests that there is a reasonable demand for rental properties. However, this does not qualify it as a primary diversifier for a portfolio, as the percentage is not high enough to significantly reduce risk through increased tenant occupancy. Instead, the focus should be on the guaranteed income stream provided by the Section 8 program.
Given the N/A% price-cut share and N/A-day Days on Market (DOM), there is no evidence to suggest that this ZIP code offers opportunities for appreciation plays. These metrics typically indicate market conditions where properties might sell quickly or require adjustments to selling prices, neither of which apply here.
In summary, ZIP 25193 serves best as a cash-flow anchor due to the substantial subsidy landlords receive from the Section 8 program, the low median home value, and the moderate renter share. This makes it a reliable choice for generating consistent income within a landlord's investment strategy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.