How many renters live in Welch, West Virginia?
The City of Welch has 3,475 people living in 808 households.
There are 326 renters living in 239 renter households in this City. Renters make up 9.38 percent of the population living in Welch.
What is the rental market like in Welch, West Virginia?
There are an estimated 1,139 housing units in the Welch area. Of these, 252 units are rental homes, making up 22 percent of the housing market. For every renter household in Welch, West Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Welch?
The rental vacancy rate in Welch is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Welch for each bedroom size?
Occupied Rental Units by Size in Welch
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 19 | 79 | 99 | 34 | 8 |
Occupied Rental Units by Size in Welch
A large number of apartments in Welch have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Welch are overburdened by housing costs?
Among renter households in this market, 67 percent have housing cost burden. Further, 38 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Welch
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $668 to $1,129. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $668 |
| One BR | $673 |
| Two BR | $848 |
| Three BR | $1,117 |
| Four BR | $1,129 |
2024 Fair Market Rents in Welch, West Virginia
How many units are rented at Fair Market Rent (FMR) in Welch?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 19 | 100 percent |
| One BR | 73 | 92 percent |
| Two BR | 40 | 40 percent |
Rental Units Below FMR in Welch, West Virginia
How many affordable rental units are in Welch?
There are a variety of federal affordable housing programs serving households in Welch, West Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 101 |
| Section 8 Project-Based Rental Assistance | 100 |
Tracked Units by Federal Program in Welch, West Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Welch, West Virginia
Welch features 101 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Welch, West Virginia
There are 74 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Welch.
Housing Choice Vouchers in Welch, West Virginia
On average, Section 8 Housing Choice vouchers pay Welch landlords $500 per month towards rent. The average voucher holder contributes $200 towards rent in Welch.
The maximum amount a voucher would pay on behalf of a low-income tenant in Welch, West Virginia for a two-bedroom apartment is between $763 and $933.
Sourced from federal housing data and AffordableHousingOnline.com research.
