Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The ZIP code 26074 presents an interesting balance between yield and stability for real estate investors, particularly those involved with Section 8 properties. With a Fair Market Rent (FMR) of $1340 for the fiscal year 2024, compared to a market rent of $893, there is a significant premium for Section 8 tenants in this area. This premium indicates a high-yield potential for landlords who can secure these rental agreements.
However, the stability of this market must also be considered. The ZIP code has a substantial portion of its population as renters, with 36.3% of residents being renters. While this figure alone does not determine stability, it suggests a robust demand for rental housing. Additionally, the median household income of $50,000 provides insight into the economic health of the area, indicating that while not high, the income level supports a steady cash flow for landlords.
The lack of data regarding the number of days on market (DOM) for homes in this ZIP code makes it challenging to assess the overall market stability fully. However, given the strong disparity between FMR and market rent, coupled with the significant percentage of renters, this market leans towards being a high-yield environment rather than a low-stability flip-style market. It's not purely a steady-cashflow zone due to the potential risks associated with lower income levels and the absence of DOM data, which could signal a slower sales market.
To summarize, 26074 offers a high-yield opportunity for landlords with Section 8 properties, driven by the substantial difference between the FMR and the market rent. Its stability is moderate, supported by a significant renter population but tempered by unknowns regarding DOM and the relatively modest median income. For investors looking to maximize returns with an acceptable level of risk, this ZIP code presents a compelling option.
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.