Location: Fayette County, WV | Metro: Fayette County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The ZIP code 25846 presents several challenges for potential Section 8 landlords. First, tenant turnover can be a significant issue due to the disparity between the market rent and the Fair Market Rent (FMR) of $870 for fiscal year 2024. This difference may lead to tenants seeking better rental options outside of the Section 8 program, increasing the likelihood of frequent turnover.
Second, there is a notable exposure to vacancy risk. The average days on market (DOM) is currently unknown, which makes it difficult to predict how quickly properties might fill. A higher DOM would indicate a longer period of non-rental income, thus increasing financial pressure on landlords.
Third, deferred maintenance is a concern given the lack of data on typical home values and median incomes in the area. Without this information, it's hard to assess the financial capacity of landlords to maintain their properties adequately. Poor maintenance can lead to higher repair costs and potential legal issues, further impacting profitability.
However, these risks must be weighed against the fact that the ZIP code has a 0.0% renter share. Typically, a high renter density correlates with greater demand for housing vouchers. Despite the absence of specific data on voucher utilization in 25846, the low renter share suggests that the competition for Section 8 tenants might be less intense, potentially easing the burden of finding and retaining qualified tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.