Section 8 Fair Market Rent (FMR) for ZIP 43916 - 2027

FY 2027 Fair Market Rent Rates

To profile ZIP code 43916 in Unknown, WV, as a Section 8 tenant pool, we must rely on the available data points despite the lack of specific population and income figures. The absence of these details suggests that this area might be less densely populated or has limited recent statistical surveys.

The median household income being listed as 'N/A' complicates direct comparisons with market rents, but it's essential to understand how voucher amounts align with typical rental costs. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 43916 is set at $860. This figure represents the maximum amount that landlords can charge tenants participating in the Section 8 program, which is designed to help low-income families afford housing.

Without concrete data on local market rents, we cannot definitively state the percentage of income that goes towards rent. However, given that the FMR is $860, landlords should anticipate that their tenants will have a monthly rental budget capped at this amount. This implies that properties priced above $860 per month would likely exclude potential Section 8 tenants, unless the landlord agrees to rent at the lower rate.

In terms of the type of tenant pool, the 'N/A%' for renters indicates uncertainty about the proportion of residents who are renters versus homeowners. This ambiguity could mean either a balanced mix or a skew towards one group. Given the reliance on voucher programs, it's reasonable to infer a significant portion of the population may be renters, particularly those relying on government assistance to cover housing costs.

A landlord in ZIP 43916 should expect tenants who qualify for Section 8 vouchers. These individuals typically have low incomes and are seeking affordable housing options. While the exact percentage of income spent on rent cannot be calculated without the median household income data, the expectation is that typical market rents should be close to or below the FMR to attract and retain Section 8 tenants effectively.

To conclude, landlords in ZIP 43916 must be prepared to work within the constraints of the Section 8 program, setting rents at or below $860 per month. The tenant profile will likely consist of low-income individuals and families who require financial assistance to secure housing. Landlords should also be aware of the administrative requirements associated with accepting Section 8 vouchers and the importance of maintaining properties to meet program standards.

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.