Location: Winchester, VA | Metro: Morgan 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 | $1,020 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,130 | $166,080 | 0.68% | D |
| 2BR | $1,420 | $232,603 | 0.61% | D |
| 3BR | $1,770 | $294,340 | 0.6% | D |
| 4BR | $2,380 | $296,463 | 0.8% | C |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 25434, located in Paw Paw, West Virginia, reveal a market in motion. The Fair Market Rent (FMR) for the area stands at $1110 for fiscal year 2024, while the Census ACS indicates a market rent of $784. This discrepancy suggests that the actual rental rates are below what the government deems fair, possibly due to an oversupply of rental units or lower-than-average income levels among residents.
The median home value in Paw Paw is $228,857, which is a key figure for understanding the overall economic landscape of the housing market. However, without historical data on home values or rental rates, it's challenging to definitively state whether supply outpaces demand or vice versa. The N/A% price-cut share and N/A-day Days on Market (DOM) indicate a lack of recent transactional data, but this doesn't necessarily mean the market is stagnant.
A notable statistic is the 13.2% renter share. While this percentage might seem low compared to urban areas, it still represents a significant portion of the population that relies on renting rather than owning homes. This can imply ongoing long-term housing pressure, especially if the local economy struggles to support homeownership, leading to a higher reliance on rentals. Landlords and small-portfolio investors should be aware that a smaller renter share could mean fewer potential tenants, but it also reflects a stable demand for rental properties in the area.
The disparity between the FMR and the actual market rent points to potential opportunities for landlords who can offer quality rental properties at competitive rates. It also suggests that there might be room for price adjustments to attract more renters, given the relatively low market rent. For small-portfolio investors looking to enter the Paw Paw market, understanding these dynamics is crucial for making informed decisions about property acquisition and management.
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.