Location: Hardy County, WV | Metro: Hardy County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,140 |
| 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 analysis of the Section 8 program in ZIP code 26836, centered around Moorefield, WV, reveals a significant gap between the Fair Market Rent (FMR) set by the government and the actual market rent. The FMR for the metro area in fiscal year 2026 is $930, while the Census ACS data indicates an average market rent of $804. This results in a gap of $126, or approximately 15.7%, where landlords can potentially earn more by participating in the Section 8 program.
In this scenario, where the FMR exceeds the market rent, landlords should view voucher tenants as a yield play. By accepting Section 8 vouchers, landlords can charge closer to the FMR, thereby increasing their rental income above what they would receive from typical market-rate tenants. This higher income stream can be particularly beneficial in Moorefield, WV, where the median home value is $210,888 and the median household income is $47,770. Given that 29.6% of residents are renters, there is a substantial population that relies on affordable housing options, making Section 8 participation a strategic move for landlords looking to maximize their returns.
However, it's important to note the implications of this gap. Accepting voucher tenants at rates above the open-market rent means landlords must comply with HUD regulations, which can include regular inspections and maintenance standards. Additionally, the process of obtaining and maintaining Section 8 tenancy can be more administratively demanding compared to renting to market-rate tenants. Despite these challenges, the potential to earn $126 more per month makes the Section 8 program a lucrative opportunity for landlords in ZIP 26836.
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.