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 |
To determine if you should buy in ZIP code 25857 for Section 8 investments, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $930 cover your debt service?
No data is available for a property's debt service in this ZIP code. Without this information, it's impossible to make a determination on whether the FMR can clear the debt service. You must calculate your own debt service costs based on the specific property you're considering.
2) Is the market rent above, at, or below the FMR?
No data is available regarding the current market rent in ZIP 25857. To proceed, you'll need to conduct a local market analysis to compare the FMR against typical rental rates for similar properties. If the market rent is significantly below the FMR, Section 8 could be a stable source of income. If it's above or equal to the FMR, you might face competition from higher-paying tenants.
3) Are there enough renters and days on the market (DOM) to support demand?
The percentage of renters and the average DOM in ZIP 25857 are not specified. These metrics are crucial for assessing demand. A high percentage of renters and low DOM indicate strong demand, making it easier to find Section 8 tenants. Conversely, a low percentage of renters and high DOM suggest weaker demand, potentially leading to vacancy issues.
Without specific data points for debt service, market rent, and rental demand indicators, you cannot definitively answer whether ZIP 25857 is a good investment for Section 8 properties. It depends on your ability to gather and analyze local market data to fill these gaps. Once you have those figures, you can make a more informed decision.
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.