Location: Wheeling, WV | Metro: Weirton-Steubenville, WV-OH MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $188,156 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 26032 is situated in a small, close-knit neighborhood characterized by a modest population of 1,061 residents. The area has a significant rental market, with 31.6% of its inhabitants being renters. This suggests a steady demand for rental properties. The median household income in this ZIP code is $58,750, which is relatively low compared to national averages, indicating that many residents might rely on assistance programs such as Section 8 vouchers. The median home value stands at $176,418, reflecting the overall affordability of the housing market in this region.
Moving into the specifics of rent economics, the Fair Market Rent (FMR) for ZIP 26032 as of the fiscal year 2024 is set at $860. However, the current market rent, according to Census ACS data, is lower at $670. This discrepancy means that landlords participating in the Section 8 program can expect a higher rent payment compared to the typical market rate, providing a financial advantage.
Given these economic conditions, ZIP 26032 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the consistent demand for rental properties and the higher FMR compared to market rates ensures a reliable income stream. On the other hand, for value-add buyers, there is potential to improve property values and rents over time, given the relatively low median home value and income levels. Both strategies can be profitable, depending on the landlord's level of involvement and investment goals.
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.