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 code 25389, located within the Charleston, WV HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1000 for fiscal year 2024. This figure is critical for understanding how this area compares to other ZIP codes within the same metro region.
The HUD Metro FMR Area for Charleston, WV typically sees a range of FMR values that reflect the cost of renting in various neighborhoods. While the specific FMR for all ZIP codes in the Charleston area is not provided, we can infer that a $1000 FMR places ZIP 25389 towards the lower end of the spectrum. This suggests it could be considered a value pocket within the metro area, offering rental opportunities at a more affordable price point compared to higher FMR ZIPs.
The absence of market rent and home value data for ZIP 25389 means we cannot directly compare these metrics to the broader Charleston market. However, the lack of data on home values and market rents might indicate that this area is less developed or has fewer properties listed for sale or rent compared to other parts of the metro. This could also imply that there is limited competition in terms of housing options, which could be advantageous for landlords looking to attract tenants who are sensitive to cost.
The unspecified percentage of renters in ZIP 25389 makes it difficult to draw conclusions about the proportion of potential Section 8 tenants. Typically, a high renter share combined with below-average home values would signal an area attractive to Section 8 participants. Given the N/A status, we must rely on the FMR to gauge the overall rental climate. With an FMR of $1000, landlords in ZIP 25389 should focus on maintaining properties that meet the quality standards expected by Section 8 tenants and the government, while also ensuring they are priced competitively within the value pocket of the Charleston metro area.
In summary, ZIP 25389 appears to be a value pocket within the Charleston, WV HUD Metro FMR Area, given its relatively low FMR. Landlords and small-portfolio investors should consider this area's affordability as a key factor in attracting Section 8 tenants, while also being prepared for the possibility of limited data on market rents and home values.
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.