How many renters live in Richwood, West Virginia?
The City of Richwood has people living in households.
There are renters living in renter households in this City. Renters make up 20.37 percent of the population living in Richwood.
What is the rental market like in Richwood, West Virginia?
There are an estimated housing units in the Richwood area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Richwood, West Virginia, there are 1.08 rental units.
What is the vacancy rate for rentals in Richwood?
The rental vacancy rate in Richwood is 7 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 Richwood for each bedroom size?
Occupied Rental Units by Size in Richwood
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 45 | 60 | 121 | 10 |
Occupied Rental Units by Size in Richwood
A large number of apartments in Richwood have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many units are rented at Fair Market Rent (FMR) in Richwood?
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 |
| One BR | 20 | 44 percent |
| Two BR | 39 | 65 percent |
Rental Units Below FMR in Richwood, West Virginia
How many affordable rental units are in Richwood?
There are a variety of federal affordable housing programs serving households in Richwood, West Virginia including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance |
Tracked Units by Federal Program in Richwood, West Virginia
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Richwood, West Virginia
Richwood features 34 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 Richwood, West Virginia
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Richwood.
Housing Choice Vouchers in Richwood, West Virginia
On average, Section 8 Housing Choice vouchers pay Richwood landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Richwood.
The maximum amount a voucher would pay on behalf of a low-income tenant in Richwood, West Virginia for a two-bedroom apartment is between $763 and $933.
Sourced from federal housing data and AffordableHousingOnline.com research.