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 | $810 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $134,798 | 0.86% | C |
| 3BR | $1,490 | $219,962 | 0.68% | D |
| 4BR | $1,650 | $320,378 | 0.52% | F |
U.S. Census Bureau data (2024)
Valley Grove, WV, located in ZIP code 26060, is a small, tight-knit community with a total population of 1,655 residents. The area has a relatively low rental rate, with only 15.4% of households being renters, indicating a predominantly owner-occupied neighborhood. The median household income stands at $69,716, suggesting a middle-class community where residents have stable financial situations. The median home value in the area is $190,596, reflecting an affordable housing market.
Moving into the economic landscape of renting, the Fair Market Rent (FMR) for ZIP code 26060 in fiscal year 2024 is set at $860. This figure contrasts sharply with the Census ACS-reported market rent of $1,107, indicating a significant gap between subsidized rents and actual market rates. For landlords and small-portfolio investors, this discrepancy presents both challenges and opportunities. On one hand, landlords might face difficulties attracting tenants who qualify for Section 8 vouchers due to the lower payment standards. On the other hand, there is potential to capitalize on the difference by seeking out tenants willing to pay the higher market rate.
The practical implications for investors considering Section 8 properties in Valley Grove, WV, are clear. A hands-off voucher operator would likely find it challenging to maintain profitability given the lower FMR compared to the market rent. Conversely, a hands-on value-add buyer could potentially improve the property's appeal and command higher rents, thereby bridging the gap between FMR and market rates. This approach requires active management and possibly capital improvements to attract higher-paying tenants while still complying with Section 8 requirements.
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.