Location: Nicholas County, WV | Metro: Nicholas 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 | $710 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,120 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $101,096 | 0.93% | C |
| 3BR | $1,120 | $152,663 | 0.73% | D |
| 4BR | $1,250 | $187,361 | 0.67% | D |
U.S. Census Bureau data (2024)
In Craigsville, WV, which falls under ZIP code 26205, the economics of Section 8 housing can be analyzed using the provided figures. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $870 per month for fiscal year 2026. This figure is specifically tailored to reflect the rental market conditions within ZIP 26205, ensuring that it accurately represents the local cost of renting a 2BR unit.
The local market rent, as reported by the Census American Community Survey (ACS), averages $621 for a similar two-bedroom apartment. This difference between the SAFMR and the actual market rent highlights the financial dynamics landlords face when participating in the Section 8 program.
A landlord who accepts a Section 8 voucher will receive a payment that covers the tenant's portion of the rent plus any utility allowances. The tenant's portion is typically 30% of their income, but it cannot exceed a certain limit based on the HUD guidelines. For simplicity, let's assume the tenant's share is exactly 30% of an income level that would result in a contribution to rent. If we take the SAFMR of $870 as the basis, the tenant might contribute around $261 per month, leaving the remaining $609 to be covered by the voucher.
However, since the local market rent is lower at $621, the voucher will only cover up to this amount. Thus, the reimbursement to the landlord will be $621, with the tenant contributing $261, totaling $882. This scenario leaves a surplus for the landlord, as the total collected exceeds the market rent by $61.
To summarize the typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 26205: there is a surplus of $61 per month. This means landlords are effectively receiving more than the average local market rent when they participate in the Section 8 program with a tenant holding a voucher.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.