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 rent math in ZIP 25908 does not align favorably with the Federal Market Rent (FMR) of $930 for fiscal year 2024. Given that the market rent is currently not available, it's crucial to understand that the FMR is a benchmark set by HUD and represents the maximum amount of rental assistance that can be paid on behalf of an eligible family. In areas where market rents exceed the FMR, landlords may find themselves absorbing the difference between the FMR and the actual market rate, which can be financially challenging.
Regarding acquisition affordability, the median home value in ZIP 25908 stands at $99,930. This figure suggests that purchasing properties in this area could be relatively affordable compared to other regions. However, without specific data on the number of days on market (DOM) and the percentage of homes that have been discounted, it's difficult to provide a comprehensive analysis of the current real estate market conditions. These metrics would help determine if properties are being sold at a discount and how long they typically remain unsold before attracting buyers.
Tenant demand is robust in ZIP 25908, with a total population of 130 individuals, all of whom are renters. This indicates a 100.0% renter share, suggesting strong potential for occupancy rates. Landlords can capitalize on this high demand by ensuring their properties meet the necessary standards and are advertised effectively within the local rental market.
Verdict: While the acquisition cost appears affordable with a median home value of $99,930, the lack of market rent data makes it challenging to assess the financial viability of renting properties at the FMR. The strong tenant demand is a positive indicator, but landlords must be prepared for potentially lower rental income due to the FMR cap. Additionally, without detailed DOM and price-cut share information, it's uncertain whether there are opportunities to acquire properties below their appraised value. Overall, the potential for occupancy is high, but the financial returns may be limited by the FMR constraints.
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.