Location: Mineral County, WV | Metro: Winchester, VA-WV MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $203,713 | 0.7% | D |
| 3BR | $1,770 | $245,577 | 0.72% | D |
| 4BR | $2,380 | $281,366 | 0.85% | C |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 26757, centered around Romney, WV, highlights a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $1110, while the Census ACS data indicates an average market rent of $594. This creates a gap of $516, or approximately 87%, between what landlords can charge under the Section 8 program and the current market rates.
This discrepancy makes voucher tenants a lucrative opportunity for landlords and small-portfolio investors. Despite Romney having only 29.7% of its population as renters, the high FMR compared to the actual market rent means that properties rented through the Section 8 program can generate a higher yield. The median home value in Romney is $224,603, and the median income stands at $57,212, indicating that many residents might find it challenging to afford homes without assistance.
The higher FMR rate compensates landlords for renting their properties below the open-market rates, ensuring they receive a stable income that is closer to the actual value of their properties. This stability is particularly attractive given the economic context of Romney, where the median income suggests that many families rely on rental assistance to secure housing. Thus, the Section 8 program serves as a financial buffer, allowing landlords to maintain profitability while providing affordable housing options to those who need them most.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.