Location: Mineral County, WV | Metro: Mineral County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
41.3% of residents in ZIP 26750 are renters, indicating a strong demand for rental properties. $910 is the Fair Market Rent (FMR) for the area as of fiscal year 2024, which represents the upper limit for rental assistance under the Section 8 program. $493 is the average market rent based on Census ACS data, suggesting that rental properties priced below the FMR could attract Section 8 tenants. However, the median home value is listed as N/A, implying limited data on property values in the area. The median income of $42,500 indicates that many residents may rely on rental assistance programs to afford housing. The day DOM and % price-cut share being listed as N/A suggest there might be insufficient data on how long homes stay on the market and the frequency of price reductions, which could be due to low turnover rates or other factors. Given these figures, landlords and small-portfolio investors should consider pricing their rental units close to the $493 market rent to maximize occupancy while still remaining within the $910 FMR cap. This approach will likely appeal to a broad range of tenants, including those who qualify for Section 8 assistance.
Investors should also be aware that the high renter share of 41.3% suggests a competitive market for rentals, potentially leading to higher vacancy rates if rents are set too high. With the median income at $42,500, it's crucial to ensure that rental prices are affordable for the majority of potential tenants. Although the specific day DOM and price-cut share percentages are unavailable, the presence of a significant renter population means that maintaining attractive rental properties is key to minimizing vacancy periods and maximizing returns.
Based on the available data, ZIP 26750 presents a viable opportunity for Section 8 investments, with a clear need for affordable rental housing and a market rent well below the FMR threshold.
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.