Location: Ritchie County, WV | Metro: Ritchie County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The ZIP code 26178 stands out due to its unique demographic and economic characteristics. With only 184 residents, it is a small community where 58.3% of the population rents their homes. The median income for this ZIP is relatively low at $35,139, while the median home value is notably higher at $123,117. This suggests that homeownership in 26178 is not easily attainable for many residents, making rental properties particularly important.
Turning to the voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $870. However, specific market rent data for ZIP 26178 is not available. This means that landlords should consider setting their rental rates close to the FMR to remain competitive and attractive to tenants who might be using housing vouchers.
The disparity between the median income and median home value indicates a transitional environment where financial assistance such as Section 8 vouchers can play a crucial role. Landlords in ZIP 26178 can benefit from participating in the Section 8 program, which helps ensure a steady stream of income from tenants who qualify for assistance. Given the high percentage of renters and the reliance on vouchers, the ZIP code appears to be in a transitional state, with the potential for stability if the rental market aligns well with the available voucher amounts.
In summary, ZIP 26178 presents an opportunity for landlords and small-portfolio investors to serve a significant portion of the local rental market through participation in the Section 8 program. The current FMR of $870 should guide rental pricing strategies to maximize occupancy and income.
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.