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 considering ZIP 25632 might question whether the Fair Market Rent (FMR) of $870 for the fiscal year 2026 can adequately cover the mortgage on a property. However, without specific data on median home values or typical mortgage payments, it's challenging to definitively state that the FMR will cover these costs. The FMR is designed to reflect the rental market conditions but does not account for individual property expenses.
The second objection is the relatively low percentage of renters at 17.5%. This suggests that the majority of residents in ZIP 25632 own their homes, which could indicate a smaller pool of potential tenants. Yet, the presence of renters still means there is demand for rental properties. It's crucial to consider the size of the total population and how many units are available to understand if the rental market can support new investments.
The final concern is whether Housing Choice Vouchers will keep up with the local market rents. Unfortunately, the data provided does not include specifics about voucher amounts or trends in ZIP 25632. Typically, voucher amounts are adjusted annually based on the HUD’s FMR, but there is no guarantee they will match local increases exactly. Landlords should monitor local voucher policies and adjust their pricing strategies accordingly to ensure they are competitive yet sustainable.
To summarize, while the FMR of $870 for ZIP 25632 provides a benchmark for rental rates, the lack of detailed information on median home values and mortgage payments makes it difficult to assess if the FMR alone is sufficient. The 17.5% renter rate indicates a smaller market share but does not necessarily mean insufficient demand. Lastly, the uncertainty around voucher amounts requires ongoing attention to local housing policies and market dynamics.
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.