Location: Nicholas County, WV | Metro: Fayette County, WV HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The ZIP code 26690 presents several challenges for potential Section 8 landlords. Firstly, the tenant turnover rate could be problematic, as there is no market rent data available compared to the $870 Fair Market Rent (FMR) for fiscal year 2024. This lack of comparative data makes it difficult to predict how competitive the rental rates will be and whether tenants might prefer other options. Secondly, the vacancy exposure is a significant concern due to the absence of days on market (DOM) data. Without knowing the average time properties remain vacant, it's hard to assess the financial impact of periods when units are unoccupied. Lastly, the deferred maintenance exposure is another critical issue. With no typical home value or median income data available, it's challenging to gauge the overall condition of the housing stock and the ability of residents to maintain their homes adequately.
However, these risks must be weighed against the high density of renters in the area, which stands at 16.1%. High renter share typically correlates with higher demand for rental assistance vouchers, such as those provided through Section 8. This suggests that landlords in ZIP 26690 can expect a steady stream of qualified applicants who are able to pay their portion of the rent consistently, reducing the risk of non-payment and increasing the likelihood of maintaining occupancy levels.
In conclusion, despite the lack of key data points that would normally help in assessing the specific risks of vacancy and maintenance, the high renter share in ZIP 26690 indicates a strong potential for consistent demand and payment reliability. The verdict for a first-time Section 8 landlord in this area is moderate risk.
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.