Location: Raleigh County, WV | Metro: Raleigh County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP code 25873 for Section 8 purposes, follow these steps:
If the answer is yes, proceed to Step 2. If the FMR does not cover the debt service, the investment would be unprofitable under Section 8 guidelines, so the answer is no.
If the market rent is above $970, it suggests that properties could be rented at higher rates outside of Section 8, making the program less attractive. If the market rent is at or below $970, it indicates that Section 8 might be competitive or even the best option for renting out units.
The 20.3% of renters signifies a moderate rental market presence. However, without specific DOM data, we cannot fully assess the demand. If the DOM is low, it implies strong demand, leading to a yes. If the DOM is high, indicating weak demand, the answer is no. If DOM is moderate, it depends on other factors such as vacancy rates and local economic conditions.
In summary, if the FMR covers debt service and market rents are at or below FMR, the next consideration is the DOM. A low DOM with 20.3% of renters suggests a positive environment for Section 8 investments. Conversely, a high DOM would make the area less favorable for such investments. Moderate DOM requires further analysis to decide.
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.