Location: Mercer County, WV | Metro: Raleigh County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 25902 in Mercer County, West Virginia, reveals important insights for landlords and small-portfolio investors. The Fair Market Rent (FMR) as determined by HUD for FY 2024 is set at $930 for this area. However, due to the lack of available market rent data, it's challenging to provide a direct comparison between the FMR and the actual rents being charged in the area.
To understand how voucher tenants might perform financially, we must consider the median home value in ZIP 25902, which stands at $135,878. This figure allows us to derive a rent-to-price ratio that can be indicative of the financial performance of voucher tenants. Given the FMR of $930, voucher tenants would typically cashflow at this rate, assuming the property values and rental rates are aligned with the FMR guidelines. Without specific market rent data, it's reasonable to assume that voucher tenants would cashflow at the FMR level, especially in a region where home values are relatively low compared to national averages.
The absence of data on the median days on market (DOM) and the percentage of price cuts indicates a stable market where homes are likely selling quickly without significant reductions. This stability is crucial for investors looking to maintain consistent cash flows and avoid prolonged vacancies or costly renovations.
In ZIP 25902, the strongest angle for investors is stability. With a low median home value and a reliable FMR, the risk of significant rent fluctuations is minimized, ensuring steady and predictable cash flows. This makes the area particularly attractive for those seeking long-term, low-risk investments.
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.