Location: Parkersburg-Vienna, WV | Metro: Parkersburg-Vienna, WV 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 | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $142,566 | 0.68% | D |
| 3BR | $1,210 | $151,042 | 0.8% | C |
U.S. Census Bureau data (2024)
The Section 8 thesis for properties in ZIP code 26142, centered around Davisville, WV, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for FY 2024 is set at $990, whereas the Census American Community Survey (ACS) reports an average market rent of $1,036. This discrepancy translates to a $46 difference, or approximately 4.7% below the market rate.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors should be aware of the potential costs associated with accepting housing vouchers. While vouchers can provide a steady stream of tenants, they also come with administrative burdens and may not cover all expenses such as maintenance and utilities, which can be higher than anticipated. Additionally, the lower FMR means landlords might be renting out units for less than what they could charge in the open market, impacting their overall rental income.
Davisville, WV, has a relatively low percentage of renters at 7.3%, indicating that homeownership is prevalent in the area. The median home value stands at $155,580, while the median household income is $62,941. These figures suggest that the local economy supports a mix of middle-income homeowners and renters, but the majority of residents own their homes. For those who do rent, the lower FMR could make it challenging to find affordable housing options, especially when considering the higher market rents.
In conclusion, the gap between FMR and market rent in ZIP 26142 highlights the financial considerations for landlords participating in the Section 8 program. Although it ensures a reliable tenant base, the lower rental rates can reduce profitability compared to the open market. Landlords must weigh these factors against the stability and security provided by the voucher system.
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.