Location: Nicholas County, WV | Metro: Nicholas County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The ZIP code 26671 represents a small, tight-knit community with a total population of 459 residents. Approximately 30.6% of these residents are renters, indicating a modest but present demand for rental properties. The median household income in this area stands at $51,050, suggesting a middle-class demographic. Notably, the median home value is currently not available, which might indicate a limited housing stock or an underdeveloped real estate market.
Moving into the specifics of rent economics, the Fair Market Rent (FMR) for the metro area covering ZIP 26671 is set at $930 for fiscal year 2026. This figure is critical for Section 8 investors as it determines the maximum rental amount that can be charged to participants in the program. However, the lack of data on market rents makes it challenging to compare the FMR against typical market rates, potentially leaving some uncertainty about how competitive these rents are in the local context.
Given the characteristics of ZIP 26671, it appears well-suited for hands-off voucher operators rather than hands-on value-add buyers. With a significant portion of the population already renting, there is a clear need for affordable housing options. The steady income provided by Section 8 vouchers can offer landlords a reliable source of revenue without the complexities of managing property improvements or renovations. Additionally, the small size of the community suggests a manageable number of properties, making it easier to operate a hands-off investment strategy.
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.