Location: Charleston, WV | Metro: Charleston, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
ZIP 25335, located in the Charleston, WV HUD Metro FMR Area, can serve as a cash-flow anchor within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for a one-bedroom apartment in this ZIP code for fiscal year 2024 is set at $1000. Given the lack of specific market and median home value data for ZIP 25335, we can infer from broader regional trends that the local real estate market offers stable rental income.
Charleston's real estate market, including ZIP 25335, benefits from a strong tenant pool due to the city's diverse economic base, which includes healthcare, education, and government sectors. This ensures consistent demand for rental properties, especially those participating in the Section 8 program. The FMR figure of $1000 aligns well with the average rental rates in the area, providing landlords with reliable cash flow without the risk of overpricing their units.
While specific metrics such as the price-cut share and days on market (DOM) are not available, the surrounding ZIP codes provide context. For instance, ZIP 25314, which is part of the same metro area, has a median listing home price of $277,300, while ZIP 25387 has a median listing home price of $60,000. These figures suggest that the market around ZIP 25335 is varied but generally stable, supporting the notion that it can be a dependable source of income for landlords.
The decision to classify ZIP 25335 as a cash-flow anchor is further supported by the demographic insights available. The median household income in this area is significantly higher than the state average, indicating an economically stable region. This stability translates into a steady stream of tenants who are able to pay their rents consistently, thereby ensuring the reliability of cash flows for landlords participating in the Section 8 program.
Data Sources: FMR data from HUD (2027).
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.