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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $168,846 | 0.6% | D |
| 3BR | $1,270 | $224,320 | 0.57% | F |
| 4BR | $1,340 | $330,138 | 0.41% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 26150, Mineral Wells, WV, in fiscal year 2024 is set at $1090. This figure represents the payment standard for Section 8 housing vouchers, meaning that the government will pay up to this amount per month to cover rent for eligible tenants. It's important to note that this does not necessarily mean you'll receive $1090 as your rent; it's the ceiling for government reimbursement.
In comparison, the average rent in Mineral Wells, WV, based on recent Census American Community Survey (ACS) data, stands at $824. This indicates that the FMR is higher than the typical market rate, potentially offering landlords a better deal when participating in the Section 8 program.
The FMR being above the local average suggests there could be a strong demand for affordable housing in the area. According to the data, 21.9% of residents are renters, indicating a significant portion of the population who might rely on rental assistance programs like Section 8. This high percentage of renters can be a positive sign for landlords looking to fill vacancies and maintain occupancy rates.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in Mineral Wells, WV, is around $217,442. This figure reflects the typical price you might expect to pay for an existing home in the area, which could serve as a starting point for evaluating the potential acquisition cost.
Before making the decision to enter into the Section 8 program, it's crucial to verify the condition of the property you plan to rent out. The Housing Quality Standards (HQS) require that properties meet certain safety and habitability criteria. Ensuring your property meets these standards will prevent delays and ensure compliance from the outset.
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.