Location: Huntington-Ashland, WV | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
The ZIP code 25721, located in Huntington, West Virginia, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. Let's address some common concerns regarding investing in this area.
Objection 1: Will Fair Market Rent (FMR) of $950 cover the mortgage on a home in ZIP 25721?
Data from Zillow shows that there are currently 112 homes for sale in the area, but it does not provide an average home price. Without this information, it is difficult to determine if the FMR will sufficiently cover mortgage payments. However, investors should consider other factors such as property taxes, insurance, and maintenance costs when evaluating profitability.
Objection 2: Is there enough renter demand at the current occupancy rate?
A search for rental properties in ZIP 25721 reveals 185 available units on Trulia. While the exact vacancy rate is not specified in the data, the number of rentals listed suggests a competitive market. Landlords must ensure their properties offer good value to attract tenants. A competitive rental strategy could involve offering amenities or services that are not commonly found in other listings.
Objection 3: Will vouchers keep pace with market rents in ZIP 25721?
The Section 8 Housing Choice Voucher Program is designed to help low-income families afford decent, safe, and sanitary housing. However, the provided data does not include specific information about the voucher program in Huntington, West Virginia. Generally, voucher amounts are adjusted annually based on local market conditions. Investors should monitor local housing authority announcements and budget updates to stay informed about any changes that might affect their income from voucher-assisted tenants.
In summary, while the data does not fully answer all questions, it does highlight the need for careful consideration of various factors before making investment decisions in ZIP 25721. Competitive pricing, attractive amenities, and staying updated on government assistance programs can help mitigate risks and enhance returns.
Data Sources: FMR data from HUD (2027).
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.