Location: Mingo County, WV | Metro: Mingo County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 25666 for Section 8 investments, follow this decision tree:
Step 1: Does the Fair Market Rent (FMR) of $900 cover the debt service on a property?
No: If the FMR does not cover your debt service, purchasing a property in this area for Section 8 tenants is not financially viable. Debt service must be covered by rental income to ensure profitability.
Yes: Proceed to Step 2.
Step 2: How does the market rent compare to the FMR?
Market rent is above FMR: This indicates that non-Section 8 tenants might offer higher rents. Consider whether you want to exclusively target Section 8 tenants or also cater to a broader market. If your goal is strictly Section 8, continue to Step 3.
Market rent is equal to FMR: Proceed to Step 3, as Section 8 tenants will pay the same amount as other renters.
Market rent is below FMR: This suggests an opportunity where Section 8 tenants can potentially provide higher rental income than the market average. However, you must still verify demand and property costs before making a purchase.
Step 3: Is there sufficient demand for Section 8 properties?
0.0% of renters are Section 8: There is no demand for Section 8 tenants in this area, making it unsuitable for such investments. Look elsewhere for opportunities that align with your investment strategy.
0.0% of renters are Section 8 but days on market (DOM) is low: It depends. A low DOM could indicate that properties are selling quickly due to strong overall demand, even if there's no specific demand for Section 8 units. Investigate further to understand the local real estate market dynamics and potential for future growth in Section 8 demand.
0.0% of renters are Section 8 and DOM is high: No. High DOM suggests weak demand for properties in general, which would likely extend to any Section 8 units. Investing in this area would be risky without significant changes in the local market or tenant preferences.
Note: The data provided indicates that there are currently no Section 8 renters in ZIP 25666, and the debt service coverage and market rent figures are not available. These missing pieces are crucial for making a fully informed decision.
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.