FY2027 Small Area FMR · Princeton, WV

ZIP 24740 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 24740 (Princeton, WV) is $940 a month, up 6.8% from FY2026. That is 1% below the Mercer County, WV area-wide FMR of $946.

2-bedroom SAFMR$940per month ▲ 6.8%

Area-wide 2 BR FMR$946Mercer County, WV

Rank in the area16thof 20 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$846

2 BR Small Area FMR$940

110% of SAFMR$1,034

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$660▲ 8.2%

1 BR$740▲ 5.7%

2 BR$940▲ 6.8%

3 BR$1,260▲ 6.8%

4 BR$1,350▲ 8.9%

FY2027 FY2026

Where 24740 sits in the Mercer County, WV area

Of the 20 ZIP codes HUD lists for the area, 24740 has the 16th highest two-bedroom Small Area FMR. Mercer County, WV is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $946 for two bedrooms; an agency that opts in to Small Area FMRs would use $940 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$660	$594 – $726	$659	$610
1 bedroom	$740	$666 – $814	$746	$700
2 bedrooms	$940	$846 – $1,034	$946	$880
3 bedrooms	$1,260	$1,134 – $1,386	$1,250	$1,180
4 bedrooms	$1,350	$1,215 – $1,485	$1,340	$1,240

A household renting a two-bedroom home at the Small Area FMR of $940 needs about $37,600 a year to keep housing costs at 30% of income. The area median family income is $75,900 and the 80% low-income limit for four people is $60,700. ZIP code 24740 lies mainly in Mercer County. See the Mercer County, WV county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
24739	Princeton	5.4 mi	$1,030
24712	Athens	6.3 mi	$1,040
25971	Lerona	7.3 mi	$950
24093	Glen Lyn	8.0 mi	$1,020
24731	Kegley	8.2 mi	$950
25922	Spanishburg	8.4 mi	$940

Questions

What is the Fair Market Rent for ZIP code 24740?

HUD's FY2027 Small Area Fair Market Rents for 24740 are $660 (studio), $740 (1 BR), $940 (2 BR), $1,260 (3 BR) and $1,350 (4 BR) a month.

What is the Section 8 payment standard in 24740?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 24740 that range is $846 to $1,034 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 24740?

The FY2026 income limits of the Mercer County, WV area apply: median family income $75,900, low-income (80%) limit $60,700 for a family of four.