Location: Randolph County, WV | Metro: Randolph 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 | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $980 | $131,638 | 0.74% | D |
| 3BR | $1,210 | $186,742 | 0.65% | D |
| 4BR | $1,560 | $224,586 | 0.69% | D |
U.S. Census Bureau data (2024)
Skeptical investors considering the ZIP code 26253, located in Beverly, West Virginia, might have several concerns regarding the viability of investing in properties here under the Section 8 program. Let's address these objections directly with the available data.
Objection 1: Will Fair Market Rent (FMR) of $980 (for the metro area in fiscal year 2026) cover the mortgage on a home valued at $183,067?
The FMR of $980 is a crucial figure when evaluating rental income potential. To determine if it will cover the mortgage, we must consider the average interest rates and loan terms. Assuming a 30-year fixed-rate mortgage with an interest rate of 5%, the monthly payment on a $183,067 home would be approximately $980. This means that the FMR exactly matches the expected monthly mortgage payment. However, this calculation does not account for property taxes, insurance, maintenance, and other expenses associated with owning a home. These costs could potentially exceed the FMR, leading to a financial loss for the landlord.
Objection 2: Is there enough renter demand at 24.7%?
A rental vacancy rate of 24.7% suggests a significant portion of available housing units are unoccupied. This high vacancy rate could indicate a weak rental market, which might make it difficult to find tenants willing to pay the FMR. However, the percentage alone does not provide a complete picture. The actual number of renters and the reasons behind the high vacancy rate are important factors to consider. For instance, if many units are vacant due to being overpriced, the FMR might still attract a sufficient number of tenants. Conversely, if the vacancy rate is due to economic conditions or low population density, attracting tenants could be challenging. More detailed local market analysis is necessary to fully assess the demand.
Objection 3: Will vouchers keep pace with market rents of $688?
The voucher amount of $980 is higher than the current market rent of $688, indicating that vouchers should adequately cover the cost of renting a unit at the prevailing market rate. However, the sustainability of this gap depends on whether market rents will rise to meet or exceed the voucher amount. If market rents increase, landlords might struggle to maintain profitability unless the voucher amounts also increase proportionally. The Housing Choice Voucher program adjusts FMR annually based on changes in the local housing market, but there is no guarantee that these adjustments will match the exact pace of rent increases in Beverly, WV.
In conclusion, while the data provides some reassurance on certain aspects of investing in ZIP 26253 under the Section 8 program, it also highlights areas of concern that require further investigation. Landlords and small-portfolio investors should carefully evaluate additional factors such as ongoing operational costs and future trends in both market rents and voucher allocations before making investment decisions.
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.