Location: Lewis County, WV | Metro: Gilmer County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The ZIP code 26384 presents a dynamic rental market, framed by the snapshot of its Fair Market Rent (FMR) at $870 for the fiscal year 2026. This figure, set by HUD, acts as a benchmark for the area's rental affordability, suggesting that landlords should align their pricing strategies with this standard to remain competitive and accessible.
A notable absence in the data is the current market rent and the percentage of homes sold with price cuts, alongside the days on market (DOM). This lack indicates either a stable market where rents are closely aligned with FMRs, or it could be a reflection of limited recent sales activity, which would make it difficult to gauge the exact pressure points between supply and demand.
The median home value in ZIP 26384 stands at $137,297. This suggests a relatively affordable market for homeownership, which might attract first-time buyers and those looking for an entry-level property. However, without historical trends, we cannot definitively state whether this represents a growing or declining market value.
A significant insight comes from the 17.5% renter share, indicating a moderate presence of renters in the area. While this percentage is not exceptionally high, it does imply ongoing housing pressure. A higher proportion of renters can signal a need for more affordable housing options, suggesting that there may be a steady demand for rental properties over the long term. Landlords and investors should consider the potential for sustained interest in rentals, especially if the trend towards renting continues in the broader economic context.
In conclusion, ZIP 26384 appears to balance affordability with moderate rental demand, making it an interesting market for both homeowners and landlords. The FMR serves as a critical reference point, guiding rental pricing strategies to ensure alignment with the area's economic realities.
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.