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 Fair Market Rent (FMR) for ZIP code 25206 in fiscal year 2024 is set at $850. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It's important to note that this is not the amount you will be receiving directly as rent; it is the payment standard used by the housing authority to determine the maximum subsidy they will pay.
While the local median rent for ZIP 25206 is listed as N/A, the 37.3% renter share indicates a significant portion of the population who rely on rental housing. This percentage suggests there is a substantial demand for affordable rentals, which can benefit landlords looking to fill vacancies with stable tenants through the Section 8 program.
The acquisition cost for properties in this area is also listed as N/A, but generally, the lower the cost of acquiring a property, the higher the potential profit margin when renting it out under the Section 8 program. The key here is to ensure that the total income from the voucher plus any tenant contribution covers your costs, including mortgage payments, property taxes, insurance, and maintenance.
To participate effectively in the Section 8 program, verify that your property meets all the necessary quality standards, known as the Housing Quality Standards (HQS). These standards are designed to ensure that the units are safe and habitable. Failure to meet these standards can result in rejection of your rental application by the housing authority.
In summary, the FMR of $850 in ZIP 25206 sets the ceiling for subsidized rent under Section 8. With a 37.3% renter share, there is a notable demand for affordable housing. Before proceeding, make sure your property complies with HQS to avoid complications and delays in the process.
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.