Location: Huntington-Ashland, WV | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
The voucher payment standard set at FMR $920 for ZIP 25562 in fiscal year 2024 provides a benchmark for affordable housing. Without precise local income data, it is reasonable to assume that many residents rely heavily on vouchers to cover their rent.
With an unspecified percentage of renters and an unknown population size, the competition among landlords in ZIP 25562 remains uncertain. However, the reliance on vouchers suggests that there might be a substantial number of households that cannot afford the market rate, whatever it may be. This implies that landlords who accept vouchers will likely attract a larger pool of potential tenants.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: accepting vouchers can stabilize occupancy and reduce vacancy rates. While the $920 voucher amount may seem lower than the elusive market rate, it ensures a steady stream of reliable tenants. Landlords should weigh the benefits of guaranteed payments against the administrative complexities of voucher programs.
In conclusion, the affordability gap in ZIP 25562 necessitates a strategic approach to tenant acquisition. Landlords aiming to secure long-term, stable tenancy would benefit from accepting Housing Choice Vouchers, despite the lower payment compared to the undefined market rate.
Data Sources: FMR data from HUD (2027).
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.