Location: Huntington-Ashland, WV | Metro: Huntington-Ashland, WV-KY-OH 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 | $860 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $123,648 | 0.86% | C |
| 3BR | $1,360 | $170,586 | 0.8% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 25537, which includes Lesage, WV, stands at $68,385. Given the market rate for rent at $884 according to the Census ACS, households in this area face a significant challenge in affording housing without financial strain. To put this into perspective, a household earning the median income would dedicate approximately 14.9% of their gross monthly income to rent at market rates.
Comparatively, the Fair Market Rent (FMR) set at $860 for fiscal year 2024 provides a slightly more affordable option for renters. This means that the difference between the market rate and the FMR is minimal, just $24 per month. However, even at the FMR, renters still face a considerable portion of their income being allocated towards housing costs.
With 30.3% of the 1,855 population being renters, there is a notable demand for rental properties in Lesage. The affordability gap between the median income and the market rate rent indicates that many renters may struggle to find suitable housing without assistance. This creates a competitive environment for landlords, as they must balance the desire for higher rents against the reality of tenants' financial capabilities.
Landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants should recognize the importance of both strategies. Accepting vouchers ensures a steady stream of rental income, albeit at a rate slightly below market ($860 vs $884). On the other hand, relying solely on cash-paying tenants could limit the pool of potential renters, especially given the tight budget constraints faced by many in the area.
The takeaway is clear: landlords in ZIP 25537 should consider diversifying their tenant mix to include both voucher recipients and cash-paying renters. This approach helps mitigate risk and ensures a broader appeal to the local rental market, where affordability is a key concern.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.