Location: Hardy 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,770 | $276,223 | 0.64% | D |
U.S. Census Bureau data (2024)
16.9% of residents in ZIP code 26845 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the area, set at $1110 for zip FY 2024, provides a benchmark for what the government deems a reasonable rent for a Section 8 voucher holder. This figure is notably lower than the market rent reported by the Census ACS, which stands at $1,526, suggesting that landlords could potentially receive higher rents from non-subsidized tenants.
$243,782 is the median home value in the region, reflecting the overall property values and indicating a middle-class neighborhood. The median income of $64,583 supports this assessment and suggests that while the area isn't wealthy, it has a stable economic base capable of supporting both rental and homeownership markets.
N/A-day DOM (days on market) and N/A% price-cut share indicate incomplete data regarding the speed at which homes sell and the frequency of price reductions, possibly due to limited transactions or recent updates in the database. However, the disparity between the FMR ($1110) and the market rent ($1,526) still offers insight into potential rental income scenarios.
In ZIP 26845, landlords and small-portfolio investors should consider the difference between the FMR and market rent when evaluating their options. While accepting Section 8 vouchers can provide steady income, the lower rent compared to the market rate might be less attractive if other viable rental opportunities exist. The stable median income and moderate renter share suggest that there is a consistent tenant pool available, but the decision to participate in Section 8 should be made carefully based on individual financial goals and property management strategies.
$1110 FMR vs. $1,526 market rent leads to a clear Section 8 verdict: cautiously consider, given the potential for higher market rents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.