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 | $207,982 | 0.68% | D |
| 3BR | $1,770 | $285,305 | 0.62% | D |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 26763, Green Spring, WV, reveals a clear picture when comparing the Federal Market Rent (FMR) and the median home value. The annualized 2BR FMR for fiscal year 2024 is $1110. Given the median home value of $215,236, the implied gross yield can be calculated. To determine the gross yield, divide the annual rental income by the property value.
In the case of the 2BR FMR, the annual rental income is $1110 multiplied by 12 months, resulting in $13,320 annually. Dividing this figure by the median home value of $215,236 gives an implied gross yield of approximately 6.2%. This calculation assumes that the property is rented out at the FMR rate throughout the year without any vacancy periods.
However, the market rent for the area is listed as N/A, indicating that there isn't sufficient data to provide a reliable market rent figure. In such a scenario, it's important to consider the local rental market dynamics. With a renter density of 6.8%, it suggests that only a small portion of the population in Green Spring, WV, is actively seeking rental properties. This low demand could impact the ability to achieve higher market rents consistently.
The N/A-day DOM (Days on Market) further complicates the analysis, as it does not provide insight into how quickly properties are being leased. Without this information, it's challenging to estimate a realistic market rent and the corresponding gross yield. Therefore, the FMR-based gross yield of 6.2% remains the most concrete figure available for this ZIP code.
Given the limited data on market rents and the low renter density, the FMR-based gross yield is likely the most accurate representation of potential returns for landlords and small-portfolio investors in Green Spring, WV. While achieving market rents might offer better yields, the current lack of data makes it difficult to quantify these potential benefits accurately.
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.