Location: Wheeling, WV | Metro: Wheeling, 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 | $730 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $156,970 | 0.67% | D |
| 3BR | $1,350 | $217,931 | 0.62% | D |
| 4BR | $1,490 | $288,433 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 26038, located in Glen Dale, West Virginia, stands out within Marshall County due to its unique data profile. With a total population of 2,752 residents, only 8.6% of whom rent their homes, it indicates a predominantly owner-occupied community. The median income for this area is $76,875, which is relatively high compared to other ZIP codes in the region. Additionally, the median home value in Glen Dale is $190,069, suggesting a stable housing market.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 26038 in fiscal year 2024 is set at $900. This figure is notably higher than the current market rent, which stands at $839 according to the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords participating in the Section 8 program can potentially receive higher rents than the typical market rate, making it an attractive option for those looking to lease properties in this ZIP code.
The data signature for ZIP 26038 reads as stable. Despite the low percentage of renters, the high median income and median home value suggest a robust local economy capable of supporting property values. Furthermore, the higher FMR compared to the actual market rent provides a cushion for landlords, ensuring they can maintain or even increase rental income through the Section 8 program. This stability is crucial for small-portfolio investors and landlords who seek predictable returns and occupancy rates.
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.