Location: Mineral County, WV | Metro: Grant County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The ZIP code 26731 stands out due to its unique combination of demographic and economic characteristics. With only 276 residents, it is one of the smallest communities, yet it has a significant rental population at 43.0%. The median home value in this ZIP is notably high at $225,251, which contrasts sharply with the lack of reported median income data, suggesting a possible disparity between housing costs and local earnings.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 26731 is set at $910 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it determines the rent ceiling for subsidized units. However, the absence of current market rent data complicates the analysis, making it difficult to assess the relative attractiveness of Section 8 vouchers in this area. Landlords should be aware that the high median home value might indicate a strong preference for homeownership among those who can afford it, potentially limiting the pool of tenants eligible for vouchers.
Given the available data, ZIP 26731 appears to have a stable environment, characterized by a high median home value and a notable rental presence. However, the lack of certain key data points, such as median income and current market rents, introduces an element of uncertainty. This ZIP code could be seen as transitional, especially if changes in local employment or housing markets occur. For now, the stability is evident, but vigilance is advised to monitor any shifts that could impact the dynamics of rental properties and Section 8 participation.
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.