Location: Raleigh County, WV | Metro: Raleigh County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,340 |
| 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)
When considering whether to purchase a property in ZIP code 25817 for Section 8 investment, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $930 cover the debt service on a property valued at $184,951?
No. The FMR of $930 does not clear the debt service on a property of that value. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. For a property priced at $184,951, these expenses would likely exceed $930 per month, making it difficult to break even solely on Section 8 rental income.
2) Is the market rent above, at, or below the FMR?
The data indicates that market rent is not available for ZIP 25817. Without this information, it's impossible to determine if the market rent can supplement the lower FMR and help cover the total cost of ownership.
3) Are the rental demand indicators sufficient?
No. With 0.0% of renters in the area and an unavailable number of days on the market (DOM), there is insufficient demand to support a Section 8 investment in this ZIP code. A lack of renters suggests low occupancy rates, which can be detrimental to cash flow and overall profitability.
In conclusion, based on the provided data, purchasing a property in ZIP 25817 for Section 8 purposes is not advisable. The FMR of $930 is too low to cover the debt service on a property costing $184,951, and there is a lack of both market rent data and sufficient rental demand in the area.
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.