Location: Logan County, WV | Metro: Logan County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $900 for ZIP 25606 in the metro area for fiscal year 2026 will sufficiently cover the mortgage on a typical home in this region. However, given that the median home list price is $155,000, it is likely that mortgages on homes within this ZIP code will be relatively low compared to higher-priced markets. This suggests that the FMR could indeed cover the mortgage, especially if the home is priced below the median.
Another concern might be the level of renter demand, which stands at 29.0%. This percentage indicates a moderate demand, but it does not provide a complete picture of the market dynamics. To gain a clearer understanding, one would need to analyze the vacancy rate and the number of renters versus homeowners in the area. While the 29.0% figure is indicative, it is insufficient to determine the overall strength of the rental market.
The final objection could be whether voucher recipients will keep pace with the market rents, which currently stand at $1,326. The FMR of $900 is significantly lower than the market rent, suggesting that voucher recipients might struggle to find affordable housing. This discrepancy highlights a potential challenge for landlords who rely heavily on voucher programs. However, the exact impact on individual properties depends on the specifics of the voucher program and the willingness of tenants to pay the difference between the voucher amount and the market rent.
In conclusion, while the data provides some answers, it also leaves room for further analysis. The FMR of $900 may cover mortgage payments for homes priced below the median, but the moderate renter demand and the gap between FMR and market rents pose challenges that must be carefully considered.
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.