Location: Upshur County, WV | Metro: Barbour 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 | $910 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $120,626 | 0.99% | C |
| 3BR | $1,570 | $199,867 | 0.79% | D |
| 4BR | $1,820 | $286,133 | 0.64% | D |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 26385, West Milford, WV, reveals some interesting insights. To begin, let's annualize the Fair Market Rent (FMR) for a 2-bedroom unit at $1,080 per month, which translates to an annual rental income of $12,960. When we compare this to the median home value of $165,951, the implied gross yield is approximately 7.8%. This calculation is based on the assumption that the property could be rented out at the FMR rate.
Next, consider the market rent figure of $1,081 per month, which also annualizes to $12,972. Using the same median home value of $165,951, the implied gross yield here is slightly higher at 7.82%. The difference between these two yields is minimal, but it does indicate that the market rent offers a marginally better return compared to the FMR rate.
Given the 7.6% renter density in West Milford, the market conditions suggest that the majority of homeowners are likely owner-occupiers rather than landlords. This low renter density implies that finding tenants who qualify for Section 8 might be challenging. Additionally, the N/A-day Days on Market (DOM) indicates that there is either no available data or that properties are selling quickly, which could further complicate the acquisition of rental properties in this area.
In conclusion, while both the FMR and market rent scenarios offer similar gross yields, the market rent provides a slightly better return. However, the low renter density and unclear DOM situation suggest that securing a steady stream of qualified Section 8 tenants could be difficult. Therefore, investors should carefully weigh these factors before committing to properties in ZIP 26385 under the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.