Location: Lincoln County, WV | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The market in ZIP 25557 stands at an interesting juncture, with the Fair Market Rent (FMR) set at $860 for the fiscal year 2024. This figure is a critical benchmark for landlords and small-portfolio investors, indicating the average rent that tenants can afford under the Section 8 program.
With the median home value at $86,834, it's evident that the area is relatively affordable, attracting both homeowners and renters. However, the lack of specific data on market rent and days on market (DOM) makes it challenging to assess the immediate supply-demand balance. The missing percentage of price-cut share further limits our ability to gauge the urgency of sales in the area.
The 15.9% renter share provides insight into the long-term housing dynamics. A lower renter share might suggest that homeownership is prevalent, but in ZIP 25557, this figure indicates a significant portion of the population relies on rental properties. This reliance on rentals suggests ongoing housing pressure, as a substantial number of residents may not be able to afford home purchases given the local economic conditions.
In a market where the renter share is notably high, landlords and investors must remain vigilant. There is likely a steady demand for rental units, which could translate into consistent occupancy rates. However, the absence of competitive market rent data means that setting rents above the FMR could risk vacancy if potential tenants cannot secure assistance through programs like Section 8.
The snapshot of ZIP 25557 reveals a market where affordability is a key factor. Landlords should consider the FMR as a guideline for setting reasonable rents that attract and retain tenants. Additionally, understanding the broader context of the local economy and housing trends will be crucial for making informed decisions about property investments and management practices.
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.