Location: Jefferson County, WV | Metro: Jefferson County, 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 | $1,120 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $2,010 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,120 | $214,181 | 0.52% | F |
| 2BR | $1,470 | $282,143 | 0.52% | F |
| 3BR | $2,010 | $397,566 | 0.51% | F |
| 4BR | $2,460 | $533,449 | 0.46% | F |
| 5BR | $2,854 | $596,679 | 0.48% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 25425, which encompasses Harpers Ferry, WV, is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR stands at $1240, whereas the Census American Community Survey (ACS) indicates that the market rent is $1,159. This creates a positive gap of $81, or approximately 7%, in favor of the FMR.
This gap means that landlords who accept Section 8 vouchers can expect to receive higher rents than what the current market offers. The FMR is set by the U.S. Department of Housing and Urban Development (HUD) to ensure that rental assistance covers a reasonable portion of the local housing market. In Harpers Ferry, where only 17.7% of residents are renters, and the median home value is $384,283, this discrepancy makes the area an attractive yield play for landlords willing to participate in the voucher program.
The median income in Harpers Ferry is $94,048, which suggests that many residents might struggle to afford market-rate rentals without assistance. By accepting Section 8 vouchers, landlords can tap into a reliable source of income that is guaranteed by the government. This can be particularly beneficial given the relatively low percentage of renters in the area, as it ensures a steady stream of tenants who are committed to paying their rent on time.
While there is a financial incentive to accept Section 8 tenants due to the higher FMR compared to the market rent, landlords should also consider the administrative aspects of participating in the program. However, the benefits of receiving a rent amount above the local average make this a strategic move for maximizing property yields in Harpers Ferry, WV.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.