Location: Huntington-Ashland, WV | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
The economics of Section 8 in ZIP code 41105, located in Huntington-Ashland County, WV, operate under the Single Area Fair Market Rent (SAFMR) system for 2-bedroom units at $930 per month for fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, meaning it reflects the rental rates considered fair and reasonable within 41105 alone.
To understand what a landlord can expect from a voucher, it's essential to break down the components. The tenant is required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,500, the tenant would contribute $450 toward the rent. However, this amount can vary depending on the individual tenant's income.
Beyond the base rent, there are utility allowances which also factor into the total reimbursement. For ZIP 41105, the utility allowance for a 2BR unit is typically included in the overall SAFMR calculation, so it does not add extra to the landlord's reimbursement. Therefore, the total reimbursement from the Housing Authority would be the SAFMR rate minus the tenant's contribution. In this case, if the tenant contributes $450, the Housing Authority would cover the remaining $480, bringing the total to $930.
Note that local market rents are currently unavailable, making it difficult to compare the SAFMR rate directly with the prevailing market rates. However, the SAFMR is designed to approximate the median rent for a standard unit in the area, ensuring that landlords receive a fair payment that aligns with the local housing market conditions.
In summary, for a 2BR unit in ZIP 41105, the typical reimbursement gap or surplus depends on the actual market rent. Since market rent data is not available, we cannot definitively state whether there will be a surplus or a shortfall. But based on the SAFMR of $930, landlords should expect to receive this amount once the tenant's contribution and any applicable utility allowances are factored in.
Data Sources: FMR data from HUD (2027).
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.