How many renters live in Fayette County, West Virginia?
The County of Fayette County has 40,545 people living in 15,938 households.
There are 8,317 renters living in 3,875 renter households in this County. Renters make up 20.51 percent of the population living in Fayette County.
What is the rental market like in Fayette County, West Virginia?
There are an estimated 19,227 housing units in the Fayette County area. Of these, 4,286 units are rental homes, making up 22 percent of the housing market. For every renter household in Fayette County, West Virginia, there are 1 rental units.
What is the vacancy rate for rentals in Fayette County?
The rental vacancy rate in Fayette County is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Fayette County for each bedroom size?
Occupied Rental Units by Size in Fayette County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 83 | 629 | 1,802 | 1,110 | 214 |
Occupied Rental Units by Size in Fayette County
A large number of apartments in Fayette County 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 Fayette County are overburdened by housing costs?
Among renter households in this market, 38 percent have housing cost burden. Further, 18 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 Fayette County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $592 to $1,481. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $592 |
| One BR | $683 |
| Two BR | $873 |
| Three BR | $1,169 |
| Four BR | $1,481 |
2024 Fair Market Rents in Fayette County, West Virginia
How many units are rented at Fair Market Rent (FMR) in Fayette County?
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 | 71 | 86 percent |
| One BR | 433 | 69 percent |
| Two BR | 955 | 53 percent |
Rental Units Below FMR in Fayette County, West Virginia
How many affordable rental units are in Fayette County?
There are a variety of federal affordable housing programs serving households in Fayette County, West Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 170 |
| Public Housing | 47 |
| Section 8 Project-Based Rental Assistance | 394 |
| Section 811 Supportive Housing for Persons with Disabilities | 18 |
| USDA Section 515 Rural Rental Housing | 218 |
Tracked Units by Federal Program in Fayette County, West Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Fayette County, West Virginia
Fayette County features 770 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 Fayette County, West Virginia
There are 342 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fayette County.
Housing Choice Vouchers in Fayette County, West Virginia
On average, Section 8 Housing Choice vouchers pay Fayette County landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Fayette County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fayette County, West Virginia for a two-bedroom apartment is between $786 and $960.
Sourced from federal housing data and AffordableHousingOnline.com research.
