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)
The Section 8 cap-rate analysis for ZIP code 25672 reveals a limited picture due to incomplete data. However, using the available figures, we can still provide some insights.
The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $900 annually. This figure represents the annualized rental income that a landlord could expect under the Section 8 program. Given that the median home value in the area is not available, we cannot directly calculate an implied gross yield based on property value. Nonetheless, we can infer that the gross yield would be lower compared to typical market conditions because the FMR is a capped amount designed to ensure affordability.
In contrast, the market rent for the area is also not specified, making it difficult to compare directly with the Section 8 rates. Generally, market rents tend to be higher than Section 8 rates, leading to a potentially higher gross yield if the property were rented at market price. The absence of this data means we must rely on other factors to assess the viability of renting through Section 8 versus the open market.
The renter density in ZIP 25672 is 5.6%, which is relatively low. This suggests that there might be fewer tenants seeking rental properties overall, including those looking for Section 8 housing. Additionally, the Days on Market (DOM) is not available, which typically indicates how quickly properties are leased. Without this information, we cannot accurately gauge the speed at which a Section 8 property might be occupied relative to market-rate rentals.
Given the low renter density, landlords should consider the stability and security of Section 8 tenancy over the potential for higher rental income in the open market. Section 8 provides guaranteed payments from the government, reducing the risk of vacancies and unpaid rent. On the other hand, market-rate rentals offer the possibility of higher yields but come with greater risks and uncertainties.
To conclude, while the exact gross yield cannot be calculated without the median home value and market rent figures, the stability of Section 8 tenancy makes it a viable option for landlords and small-portfolio investors in ZIP 25672. The low renter density suggests that securing tenants, whether through Section 8 or the open market, may require additional effort and consideration of the local rental 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.