How many renters live in Montgomery, West Virginia?
The City of Montgomery has people living in households.
There are renters living in renter households in this City. Renters make up 56.21 percent of the population living in Montgomery.
What is the rental market like in Montgomery, West Virginia?
There are an estimated housing units in the Montgomery area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Montgomery, West Virginia, there are 1.17 rental units.
What is the vacancy rate for rentals in Montgomery?
The rental vacancy rate in Montgomery is 12 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 Montgomery for each bedroom size?
Occupied Rental Units by Size in Montgomery
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 3 | 154 | 151 | 116 | 5 |
Occupied Rental Units by Size in Montgomery
A large number of apartments in Montgomery have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Montgomery
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 Montgomery, West Virginia
How many units are rented at Fair Market Rent (FMR) in Montgomery?
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 | 3 | 100 percent |
| One BR | 124 | 81 percent |
| Two BR | 121 | 80 percent |
Rental Units Below FMR in Montgomery, West Virginia
How many affordable rental units are in Montgomery?
There are a variety of federal affordable housing programs serving households in Montgomery, West Virginia including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Montgomery, West Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Montgomery, West Virginia
Montgomery features 162 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 Montgomery, West Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Montgomery.
Housing Choice Vouchers in Montgomery, West Virginia
On average, Section 8 Housing Choice vouchers pay Montgomery landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Montgomery.
The maximum amount a voucher would pay on behalf of a low-income tenant in Montgomery, West Virginia for a two-bedroom apartment is between $786 and $960.
Sourced from federal housing data and AffordableHousingOnline.com research.