Location: Weirton-Steubenville, WV | Metro: Weirton-Steubenville, WV-OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 26056 presents an interesting case study for both renters and landlords. The median income for households here stands at $54,286, which provides a baseline for understanding the financial capacity of potential tenants.
However, the absence of specific market rate data for rentals in this area means we must rely on other indicators to assess affordability. The Fair Market Rent (FMR) set by HUD for ZIP 26056 in fiscal year 2024 is $860, representing the voucher payment standard for this region.
To put these numbers into context, let's consider the broader implications for renters. A household earning the median income would typically allocate around 30% of their earnings toward housing costs. This equates to approximately $1,357 per month, based on the median income figure. Given that the FMR is significantly lower at $860, it suggests that there is a substantial affordability gap for renters who might be relying solely on their income without additional assistance.
The demographic snapshot of ZIP 26056 shows a very small population of 233 individuals, with a reported 0.0% of renters. This could indicate that the rental market is exceptionally tight, possibly due to limited available units or strong homeownership rates. Such conditions mean that landlords operating in this area will likely face minimal competition from other property owners looking to lease their units.
The takeaway for landlords considering whether to accept vouchers versus cash-paying tenants is clear. While the voucher payment standard is fixed at $860, the scarcity of rental properties and the affordability gap suggest that landlords might benefit from accepting vouchers. This strategy can help secure tenancy in a market where finding willing and able renters could otherwise be challenging. Moreover, it positions landlords to serve a critical need in the community, potentially leading to longer-term tenancies and more stable cash flows compared to chasing a limited pool of cash-paying tenants.
Data Sources: FMR data from HUD (2027). 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.