Location: Greenbrier County, WV | Metro: Greenbrier County, WV
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $81,731 | 1.21% | A |
| 3BR | $1,230 | $122,839 | 1% | B |
| 4BR | $1,340 | $163,525 | 0.82% | C |
U.S. Census Bureau data (2024)
A skeptical investor looking into ZIP code 25984 in West Virginia might raise several concerns regarding the viability of investing in the area, particularly when considering it as a potential Section 8 property. Let's address these concerns directly.
Will FMR $870 (metro FY 2026) cover the mortgage on a $118,712 home?
The Fair Market Rent (FMR) for ZIP 25984 in fiscal year 2026 is set at $870. This figure represents the average rental price that a landlord can expect from a tenant participating in the Section 8 program. However, whether this amount will sufficiently cover the mortgage on a home priced at $118,712 depends on additional factors such as the interest rate and loan terms. For instance, with a typical 30-year fixed-rate mortgage at an interest rate of 4%, the monthly payment on a $118,712 home would be approximately $570. This means that the FMR of $870 would indeed cover the mortgage, leaving a surplus of $300 per month. This surplus can be used to pay for property taxes, insurance, maintenance, and other expenses.
Is there enough renter demand at 27.8%?
The percentage of renters in ZIP 25984 stands at 27.8%. While this number may seem low compared to some urban areas, it still indicates a significant portion of the population who rely on rental housing. The demand for rental properties, especially those affordable through the Section 8 program, can be robust in areas where homeownership rates are higher. Investors should also consider the broader economic context and demographic trends that could influence future demand. For example, if there is an influx of new residents due to job creation or other economic activities, the rental market could expand beyond current levels.
Will vouchers keep pace with $649 market rents?
The current market rent in ZIP 25984 is $649, which is below the FMR of $870. Historically, voucher payments have been adjusted to match the FMR, ensuring that landlords receive a fair rate for their properties. However, the data does not provide specific projections for voucher increases in the coming years. Given the trend of FMR adjustments, it is reasonable to assume that voucher amounts will continue to align with the FMR, thereby covering the market rent. Yet, investors should monitor local housing authority announcements and federal guidelines for any changes that could affect voucher payments.
In summary, while ZIP 25984 presents challenges, the data suggests that the FMR is sufficient to cover mortgages on homes within the median price range, and the existing rental demand is substantial enough to support investment. Vouchers are likely to maintain parity with market rents, but continuous monitoring is advised to ensure compliance with changing regulations and economic conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.