Location: Weirton-Steubenville, 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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $79,612 | 1.26% | A |
| 3BR | $1,290 | $147,470 | 0.87% | C |
| 4BR | $1,510 | $170,100 | 0.89% | C |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 26037, which encompasses Follansbee, WV, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR stands at $860, while the Census ACS reports a market rent of $661. This means that the FMR exceeds the market rent by $199, or approximately 30.1%. The higher FMR rate makes this area a yield play for landlords and small-portfolio investors who can leverage the federal subsidy to achieve better rental income.
In Follansbee, where 29.7% of residents are renters and the median home value is $122,700, the opportunity to receive guaranteed rental payments through the Section 8 program is particularly attractive. With a median household income of $59,508, many residents rely on housing vouchers to afford living in the area. Landlords can capitalize on this by renting their properties to voucher holders at the higher FMR rate, thus ensuring a steady stream of income that is above the local market average.
The disparity between the FMR and market rent also highlights the potential for landlords to benefit financially from the federal assistance. By accepting Section 8 tenants, landlords can avoid the risks associated with open-market fluctuations and ensure a consistent rental income that is pegged to a higher figure. This makes it easier for landlords to cover maintenance costs, property taxes, and other expenses related to owning rental properties.
However, it's important to note that while the FMR provides a higher rental rate, landlords must still meet certain quality standards and undergo regular inspections to maintain eligibility for the Section 8 program. Despite these requirements, the financial advantage of renting to voucher holders in Follansbee is evident given the substantial difference between the FMR and the local market rent.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.