Location: Ritchie County, WV | Metro: Parkersburg-Vienna, WV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 26161 in fiscal year 2024 is set at $850. This figure represents the maximum amount that the U.S. Department of Housing and Urban Development (HUD) will pay through the Section 8 program to cover a portion of the rent for eligible tenants. It does not reflect the total rent you can charge your tenants.
While the local median rent is listed as N/A, which suggests limited data availability, the fact that the renter share is 0.0% indicates there's a high demand for affordable housing in this area. Landlords should expect a steady stream of potential tenants looking for assistance under the Section 8 program.
The acquisition cost for properties in this ZIP code is also noted as N/A, making it difficult to provide a precise comparison between property values and the FMR. However, given the high demand for affordable housing, it is likely that properties within the price range that align with the FMR will be sought after.
To clarify, the FMR of $850 means that HUD will pay up to this amount towards the rent of a tenant who qualifies for the Section 8 program. As a landlord, you can charge slightly above this amount, but the total rent must still be reasonable and comparable to market rates in the area. The exact amount above the FMR that you can charge will depend on the specifics of the Section 8 contract and local housing market conditions.
Before proceeding with your first Section 8 rental, ensure that your property meets all the necessary requirements for the program. Specifically, verify that your unit passes a Housing Quality Standards (HQS) inspection. This is crucial because failing to meet HQS standards could result in penalties or disqualification from the program.
In summary, the FMR of $850 provides a benchmark for the government subsidy you can receive. With high demand for affordable housing, landlords in ZIP 26161 can expect interest from Section 8 participants. Ensure compliance with HQS to avoid issues and to maximize the likelihood of a successful Section 8 tenancy.
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.