Section 8 Fair Market Rent (FMR) for ZIP 26031 - 2027

Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA

Investment Score for ZIP 26031

Monthly Rent (2BR)

$1,000

Median Price (2BR)

$67,967

1% Rule

1.47%

Annual Yield

17.66%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$700
1 Bedroom	$820
2 Bedrooms	$1,000
3 Bedrooms	$1,290
4 Bedrooms	$1,430
5 Bedrooms	$1,659
6 Bedrooms	$1,858
7 Bedrooms	$2,007
8 Bedrooms	$2,107

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,000	$67,967	1.47%	A
3BR	$1,290	$107,353	1.2%	A

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,770

Median Household Income

$46,797

Housing Units

941

Renter Percentage

39.0%

Occupancy Rate

85.7%

Renter Occupied

314

The ZIP code 26031, located in Benwood, West Virginia, is a modest suburban area characterized by its relatively low-cost housing and significant percentage of renters. This environment presents unique opportunities and challenges for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 26031 is set at $860 per month for the fiscal year 2024, according to HUD standards.
The average market rent, as reported by the Census Bureau's American Community Survey, is $811 per month, slightly below the FMR but still indicative of a stable rental market.
The median home value in the area stands at $74,912, which is considerably lower than national averages, making property acquisition potentially more affordable.
Renters make up 39.0% of the population, suggesting a strong demand for rental properties in the area.
While the exact number of days on the market (DOM) for rental listings is not available, the high renter share indicates that properties may be occupied quickly once listed.
The median household income in the area is $46,797, providing insight into the financial capacity of potential tenants.

Investors considering the Benwood market should note the alignment between the Fair Market Rent and actual market rents, indicating a balanced pricing structure. The median home value suggests that purchasing property could be cost-effective, while the significant renter share points to a robust tenant pool. Despite the lack of specific days on the market data, the high renter occupancy rate implies that properties will likely be leased without prolonged vacancy periods. The median income figure supports the feasibility of collecting rent at the established rates, ensuring a steady cash flow for landlords and investors. In summary, the Benwood market offers a solid foundation for rental investments with predictable returns and manageable acquisition costs.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).

About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.