Location: Charleston, WV | Metro: Charleston, 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 | $810 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $119,326 | 0.97% | C |
| 3BR | $1,470 | $185,794 | 0.79% | D |
| 4BR | $1,520 | $247,395 | 0.61% | D |
U.S. Census Bureau data (2024)
To decide whether to buy in ZIP code 25303 (South Charleston, WV) for Section 8 investments, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1010 cover the debt service on a property valued at $165,135?
If the annual debt service on a property valued at $165,135 is less than $12,120 ($1010 per month), then the answer is yes. The FMR provides sufficient income to cover the mortgage payments and other associated costs. However, if the debt service exceeds this amount, the answer is no. A landlord would need to ensure that the rental income can fully offset the financial obligations.
2) How does the market rent of $1,116 compare to the FMR?
The market rent of $1,116 is above the FMR of $1010. This means that landlords could potentially charge higher rents to non-Section 8 tenants. If the goal is to maximize rental income, then the answer is yes. However, if the intent is strictly to cater to Section 8 tenants, the answer is it depends. Landlords must consider the balance between attracting both types of tenants and the administrative complexities of managing Section 8 properties.
3) Is there enough demand with 29.3% of residents being renters and an unknown number of days on the market (DOM)?
With 29.3% of the population renting, there is a notable demand for rental properties. However, the lack of data regarding the days on the market (DOM) makes it difficult to assess how quickly units can be leased. If the DOM is low, indicating a fast turnover rate, then the answer is yes. There is sufficient demand to fill vacancies promptly. If the DOM is high, suggesting a slower leasing process, the answer is it depends. Landlords should investigate further into local real estate trends and competition to gauge the actual leasing speed.
In summary, the decision to invest in ZIP code 25303 for Section 8 properties hinges on these factors. Ensure that the FMR covers your debt service, consider the potential to charge higher market rents, and verify that the rental demand is strong enough to support quick turnovers. Without specific DOM data, landlords must rely on other indicators of market health and tenant interest to make informed decisions.
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.