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 median household income in ZIP 25724 (Huntington, WV) is $50,724, and the median rent is $1,409. This means that the median rent is significantly higher than the federal payment standard of $950 for FY 2024.
With a population of 45,724 and a substantial portion of renters, the affordability gap between market rents and the voucher payment standard is evident. The discrepancy suggests that many households may struggle to afford market-rate rents without assistance.
This gap creates strong competition among landlords for tenants with housing vouchers. Landlords should consider the benefits of accepting vouchers, such as a guaranteed source of income, versus relying solely on cash-paying tenants who might face challenges affording the higher market rates.
Takeaway: In ZIP 25724, landlords should weigh the advantages of accepting housing vouchers against the risks of depending on cash-paying tenants who may find market rents unaffordable. The decision should factor in the local economic landscape and the significant difference between market rents and voucher payment standards.
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.