Location: Huntington-Ashland, WV | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 25755 in fiscal year 2024 is set at $950. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; rather, it's the payment standard used by the Housing Choice Voucher Program to determine the maximum allowable rent for subsidized units.
In ZIP 25755, the FMR of $950 indicates the upper limit for monthly rent. However, the actual rent you receive might be less due to the way the Section 8 program operates. The program typically pays the difference between 30% of the tenant's income and the FMR, up to the FMR cap. If the average market rent in the area is below $950, you should still aim to price your rental unit at the FMR level to maximize your potential earnings.
The local average rent is currently not available (N/A), but you can use the FMR as a benchmark for setting your rental rates. Assuming a 100% renter share, which means the entire FMR is allocated towards rent, there is likely strong demand for affordable housing options in this area. The lack of data on acquisition costs (N/A) makes it challenging to provide specific advice on property investment, but generally, the FMR can help guide your expectations on what you might pay for a property suitable for Section 8 tenants.
Before you decide to participate in the Section 8 program with your first rental in ZIP 25755, it's crucial to verify that your property meets all the required standards for habitability and safety. The housing authority will inspect your property to ensure it adheres to these standards, so any necessary repairs or upgrades should be completed beforehand to avoid delays in securing a tenant.
In summary, the FMR of $950 sets the ceiling for rent charges under the Section 8 program. While local average rents are not available, the strong demand for affordable housing suggests that pricing at the FMR could attract tenants quickly. Ensure your property is fully compliant with safety and habitability standards to avoid complications once you're ready to list it for Section 8 tenants.
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.