Location: Raleigh County, WV | Metro: Raleigh County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 25849, located within the Raleigh County, WV HUD Metro FMR Area, presents a unique set of challenges and opportunities for landlords and small-portfolio investors. For fiscal year 2024, the HUD Fair Market Rent (FMR) for this area is set at $860 per month for a standard unit. However, the lack of specific market rent data makes it difficult to directly compare the HUD FMR to local rental rates.
Given the absence of market rent figures, it's reasonable to infer that voucher tenants will likely cashflow at the FMR rate, assuming the market rent is not significantly higher. This inference is based on the typical behavior of the Section 8 program where rents are set to be affordable for the majority of participants. The median home value in the area is also not available, which means deriving an exact rent-to-price ratio is not possible. However, the general rule of thumb is that areas with lower median home values tend to have a better rent-to-price ratio, making rental investments more attractive compared to buying.
The days on market (DOM) and price-cut share data are also unavailable, which would typically help us understand the balance between renting and buying. Without this information, we can't provide insights into how long properties stay on the market or the frequency of price reductions. These metrics are crucial for understanding the local real estate market's health and dynamics, particularly in terms of how quickly rental properties turn over and the level of competition among buyers.
In conclusion, while there is limited data to make precise comparisons, the primary focus for investors in ZIP 25849 should be on cashflow. The HUD FMR of $860 suggests that landlords can expect steady income from voucher tenants without significant risk of vacancy due to the program's design to ensure affordability. This stability in cashflow provides a solid foundation for investment, especially in a region where other economic indicators might be less favorable. The strongest investor angle here is cashflow, given the predictability of income from Section 8 vouchers and the absence of data suggesting otherwise.
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.