Location: Winchester, VA | Metro: Winchester, VA-WV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,770 |
| 4 Bedrooms | $2,380 |
| 5 Bedrooms | $2,761 |
| 6 Bedrooms | $3,092 |
| 7 Bedrooms | $3,339 |
| 8 Bedrooms | $3,506 |
U.S. Census Bureau data (2024)
To determine if a landlord should invest in ZIP 26711 (Capon Bridge, WV) for Section 8 properties, follow this decision tree based on the provided data:
Step 1: Does the Fair Market Rent (FMR) of $1,110 cover the debt service on a $298,955 property?
No. The FMR of $1,110 does not clear the debt service on a $298,955 property. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. Given the average home price and the FMR, the rental income would likely be insufficient to cover these expenses without additional subsidies or cost savings. Proceed to Step 2 only if you can find ways to reduce costs or increase revenue.
Yes. If you can manage the property such that the FMR of $1,110 covers all debt service obligations, then proceed to Step 2.
Step 2: Is the market rent of $1,080 (Census ACS) above, at, or below the FMR?
Below. The market rent of $1,080 is below the FMR of $1,110. This suggests that while the FMR might be higher, the actual rents collected could be lower, impacting profitability. However, if you can negotiate higher rents within the FMR range, this could still be viable. Proceed to Step 3.
At or Above. If the market rent were at or above the FMR, this would indicate a favorable market condition where the landlord could potentially charge the full FMR. However, given the data, this scenario does not apply.
Step 3: Are 15.0% of residents renters and with N/A-day days on the market (DOM) enough demand?
It Depends. With 15.0% of residents being renters, there is a moderate level of demand for rental properties in Capon Bridge, WV. The N/A-day DOM indicates that there is no recent data available for how long properties stay on the market, which could mean either strong demand or a lack of new listings. To make an informed decision, consider the following:
The percentage of renters is relatively low, which might suggest limited demand for rental units. However, the presence of Section 8 can stabilize the rental market and provide a steady stream of tenants.
The absence of DOM data makes it difficult to assess the current market dynamics accurately. Research further into the local real estate market trends and vacancy rates to gauge demand.
If you decide to proceed, ensure you understand the local Section 8 waiting lists, eligibility requirements, and the process of becoming a Section 8 landlord.
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.