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 | $740 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $102,808 | 1.03% | B |
| 3BR | $1,370 | $228,021 | 0.6% | D |
| 4BR | $1,510 | $341,453 | 0.44% | F |
U.S. Census Bureau data (2024)
The market in ZIP 26059, encompassing Valley Grove, WV, presents a dynamic environment characterized by specific metrics that offer insights into its current state. The Fair Market Rent (FMR) for the area stands at $1180 for the fiscal year 2024, while the market rent, according to the Census ACS, is recorded at $917. This discrepancy suggests that there is a gap between what is considered fair rent and the actual rents being charged, indicating potential upward pressure on rental prices.
The median home value in the region is $185,188, which provides a baseline understanding of property values. However, the lack of data on the percentage of price cuts and days on market (DOM) makes it challenging to determine whether supply currently outpaces demand or vice versa. Despite this, the 25.9% renter share indicates a significant portion of the population is renting rather than owning homes. This high renter share can be interpreted as a sign of long-term housing pressure, suggesting that many residents may be unable to afford homeownership, thus maintaining steady demand for rental properties.
In summary, ZIP 26059 exhibits characteristics of a market where rental demand is likely robust due to the high renter share. Landlords and small-portfolio investors should consider these factors when evaluating the potential returns and stability of their investments in this area. The observed metrics suggest a market where rental properties could continue to see consistent occupancy rates, though the exact balance between supply and demand remains unclear without additional data on price cuts and DOM.
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.