Location: Mingo County, WV | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
Kermit, WV, located in Mingo County, has a distinct demographic profile that sets it apart from other areas. With a population of 1,999 residents, only 17.2% rent their homes, indicating a strong preference for homeownership. The median income here is $38,495, while the median home value stands at $89,760. This suggests that homeownership is relatively affordable compared to the income levels, which could be a significant factor in the low rental rate.
The economics of Section 8 vouchers in ZIP code 25674 are favorable for landlords. The Fair Market Rent (FMR) for Kermit for fiscal year 2024 is set at $860, which is slightly higher than the market rent of $834 based on Census ACS data. This means that landlords who accept Section 8 vouchers can expect to receive a rent subsidy that exceeds the typical market rate, providing a financial advantage over standard rental agreements.
The data signature for Kermit indicates a stable environment rather than a transitional one. The relatively high median home value paired with a median income suggests that the area has a solid economic foundation. Additionally, the low percentage of renters implies a community where long-term homeownership is prevalent, leading to a more settled and predictable housing market. Landlords and small-portfolio investors should find this stability appealing, as it reduces the risk associated with fluctuating market conditions and tenant turnover.
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.