Location: Martinsburg, WV | Metro: Martinsburg, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
U.S. Census Bureau data (2024)
18.6% of residents in ZIP 25403, Martinsburg, WV, are renters, indicating a moderate demand for rental properties in the area. The $1260 Fair Market Rent (FMR) set for zip FY 2024 provides a benchmark for landlords to ensure their rents align with HUD guidelines. However, the actual market rent, known as ZORI, stands at $1,692, suggesting that landlords can potentially charge above the FMR if they offer high-quality accommodations. The median home value in the area is $371,929, which reflects the overall housing market's stability and value. For those considering the rental market, the median income of $87,512 offers insight into the financial capacity of potential tenants. A 41-day Days on Market (DOM) indicates that listings typically take just over a month to be rented out, which is relatively quick. Furthermore, the 0.2% price-cut share suggests that few landlords need to reduce their asking prices to attract tenants, implying strong market conditions. In conclusion, while the Section 8 program caps rents at $1260, landlords can achieve higher returns by renting outside the program, given the robust local economy and market rents exceeding the FMR.
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.