Location: Summers County, WV | Metro: Fayette County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,220 |
| 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)
A skeptical investor might question whether the Fair Market Rent (FMR) of $870 for ZIP 25986 (Spring Dale, WV) will sufficiently cover the mortgage on a home. The median home value in this ZIP code is $146,600. To accurately assess if the FMR will cover the mortgage, we need specific details such as the interest rate and loan term, which are not provided here. However, given the relatively low median home value, it's plausible that an FMR of $870 could indeed cover the mortgage on a modestly priced property.
The second objection concerns the renter demand at 0.0%. This figure suggests a complete absence of rental activity, which is highly unusual and likely indicates incomplete or inaccurate data. For a more comprehensive understanding, additional sources or a broader analysis of the local rental market should be considered. Realistically, a ZIP code with zero rental demand would not have any rental listings or tenants, but this is unlikely to be the case without further context.
The final concern is whether housing vouchers will keep pace with the market rents in ZIP 25986. Unfortunately, the data does not provide specific information regarding the housing voucher utilization rate for this ZIP code. The most recent national data shows that voucher utilization rates vary widely by state and locality. Given the limited information available, it's difficult to definitively state whether vouchers will match market rents in Spring Dale, WV. To make an informed decision, one would need to consult local housing authorities or HUD for detailed voucher distribution and funding data.
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.