Location: Calhoun County, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The ZIP code 25235 presents several potential pitfalls for landlords considering Section 8 investments. Firstly, tenant turnover can be a significant issue when comparing the local market rent, which is currently unavailable, against the $850 Fair Market Rent (FMR) for fiscal year 2024. This disparity may lead to frequent changes in occupancy, affecting long-term stability and cash flow. Secondly, the area's vacancy exposure is notable due to an unspecified number of days on the market (DOM), indicating that properties might remain vacant for extended periods, leading to lost rental income. Additionally, the deferred maintenance exposure is considerable, with a typical home value of $130,559 and a median income of $52,070. These figures suggest that many homeowners may struggle to keep up with necessary property improvements, potentially impacting the quality and safety of rental units.
Despite these challenges, the ZIP code also offers some advantages that mitigate these risks. The 12.5% renter share indicates a relatively high concentration of renters, which typically translates into a robust demand for housing vouchers. This high renter density ensures a steady pool of tenants who qualify for Section 8 assistance, reducing the likelihood of prolonged vacancies. Furthermore, the presence of a substantial number of renters often correlates with a higher rate of voucher utilization, providing landlords with a reliable source of income.
In summary, while there are notable risks associated with the Section 8 program in ZIP 25235, including uncertain market rents, potential vacancy issues, and deferred maintenance concerns, the high renter density offers a counterbalance. The verdict for this area is moderate risk for a first-time Section 8 landlord, given the mixed indicators of both challenges and opportunities.
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.