Location: Upshur County, WV | Metro: Lewis 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 | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $113,434 | 0.87% | C |
| 3BR | $1,270 | $164,415 | 0.77% | D |
| 4BR | $1,650 | $197,253 | 0.84% | C |
U.S. Census Bureau data (2024)
A skeptical investor considering Buckhannon, WV (ZIP 26218), might raise several concerns regarding the feasibility of investing in properties under the Section 8 program. Let's address these concerns with the available data.
Will FMR $960 (metro FY 2026) cover the mortgage on a $133,399 home?
The Fair Market Rent (FMR) for Buckhannon is projected to be $960 per month in fiscal year 2026. To determine if this will sufficiently cover the mortgage on an average-priced home, we need to calculate the monthly mortgage payment. Assuming a 30-year fixed-rate mortgage at a typical interest rate of 4%, the monthly mortgage payment for a $133,399 home would be approximately $630. This means that the FMR of $960 would indeed cover the mortgage payment, leaving a surplus of $330 per month before accounting for other expenses such as property taxes, insurance, and maintenance. However, it's important to note that interest rates can fluctuate, affecting the actual mortgage payment amount.
Is there enough renter demand at 11.5%?
The percentage of renter-occupied housing units in Buckhannon stands at 11.5%. This figure might seem low, but it's crucial to consider the context. Buckhannon is a small town, and a significant portion of the population might prefer homeownership. Despite the relatively low percentage, the absolute number of renters could still support a few Section 8 properties. For instance, if the total number of housing units in Buckhannon is around 7,000, then 11.5% translates to roughly 805 renter-occupied units. This number is substantial enough to ensure a steady demand for rental properties, including those participating in the Section 8 program.
Will vouchers keep pace with $1,321 market rents?
The market rent for a two-bedroom apartment in Buckhannon is $1,321 per month. The Section 8 voucher program aims to cover a portion of the market rent, but whether it will keep up with the increasing costs depends on the rate adjustments made by the Department of Housing and Urban Development (HUD). Historically, HUD has adjusted voucher amounts annually based on inflation and local market conditions. However, the data does not provide specific projections for voucher increases in Buckhannon. Therefore, while there is a mechanism in place to adjust voucher amounts, it remains uncertain if they will exactly match the market rent of $1,321. Investors should monitor local HUD announcements and trends in market rents closely to anticipate future adjustments.
In conclusion, the data suggests that the FMR of $960 can adequately cover the mortgage on a $133,399 home, and the absolute number of renters supports demand for rental properties. However, the alignment of voucher amounts with market rents requires ongoing attention due to the lack of specific projections in the data provided.
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.