Location: Parkersburg-Vienna, WV | Metro: Parkersburg-Vienna, WV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
The decision to invest in ZIP 26121 (Unknown, WV) for Section 8 properties hinges on several key factors. Begin your analysis with the following questions:
1) Does the Fair Market Rent (FMR) of $950 for ZIP 26121 in fiscal year 2024 cover the debt service on a property?
Yes: If the FMR of $950 is sufficient to cover the monthly mortgage payment and other expenses, then you can proceed to the next question.
No: Investing in Section 8 properties in ZIP 26121 would not be financially viable if the FMR does not meet the debt service requirements. Look for areas where the FMR exceeds the necessary debt service coverage.
2) How does the market rent compare to the FMR of $950?
Above: If the market rent is higher than $950, consider the potential for non-Section 8 tenants who might pay more. This scenario suggests flexibility but also indicates that Section 8 tenants might find it harder to afford housing.
At: Market rents equal to the FMR mean that Section 8 tenants can afford the market rate, which could make the area attractive for both types of tenants. However, this also implies limited upside for non-program participants.
Below: If market rents are below $950, it signals strong demand for affordable housing, making ZIP 26121 an ideal location for Section 8 investments. Landlords can expect steady occupancy rates.
3) Do the percentage of renters and the days on market (DOM) indicate sufficient demand?
N/A% Renters + N/A-day DOM: Without specific percentages and DOM data, it's difficult to quantify the exact level of demand. However, if the percentage of renters is high and the DOM is low, this points towards a robust demand for rental properties. Conversely, low percentages of renters or high DOM suggest less demand.
To summarize, investing in ZIP 26121 for Section 8 properties is contingent upon the FMR covering debt service and the market conditions supporting demand. If the answers lead to a positive outcome, proceed with confidence; otherwise, reassess the investment strategy.
Data Sources: FMR data from HUD (2027).
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.