Location: Mineral County, WV | Metro: Grant County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The investment risk assessment for becoming a Section 8 landlord in ZIP code 26717 reveals several potential challenges that could impact profitability. First, tenant turnover is a significant concern. The market rent in this area is not specified, but the Fair Market Rent (FMR) for FY 2024 stands at $910, which is the maximum amount a voucher holder can be expected to pay. This disparity between market rent and FMR can lead to higher turnover rates as tenants might seek properties where they can cover a larger portion of the rent themselves.
Vacancy exposure is another issue. With no data available on the days on market (DOM), it's difficult to predict how quickly a property will fill when vacant. However, in areas with high competition for rental properties, extended vacancy periods can significantly reduce income. Furthermore, the typical home value in ZIP 26717 is $132,731, while the median income is $74,712. This suggests that residents might struggle to afford necessary maintenance, leading to deferred repairs and potential safety issues, which are strictly monitored by Section 8 programs.
Despite these risks, there are mitigating factors that make Section 8 investments in ZIP 26717 worth considering. The renter share of the population is 3.2%, indicating a relatively high concentration of renters who may rely on housing vouchers. High renter density usually correlates with greater demand for Section 8 properties, reducing the likelihood of prolonged vacancies.
In conclusion, the risks associated with becoming a first-time Section 8 landlord in ZIP 26717 are moderate. While challenges such as tenant turnover, vacancy exposure, and deferred maintenance exist, the strong demand for rental properties among voucher holders provides a stable foundation for investment.
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.