Location: Ritchie County, 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $950 | $124,774 | 0.76% | D |
| 3BR | $1,190 | $204,746 | 0.58% | F |
U.S. Census Bureau data (2024)
950 is the Fair Market Rent (FMR) for ZIP code 26180 in Elizabeth, WV, for fiscal year 2024, indicating the maximum amount a Section 8 tenant can pay for rent. 852 is the average market rent reported by the Census Bureau's American Community Survey (ACS), suggesting that properties priced at the FMR level could be slightly above average for the area. 151,440 represents the median home value in the region, which is relatively low compared to many other parts of the country, making it an attractive market for real estate investors looking to enter at a lower cost. 11.5% is the proportion of households that are renters, showing that while rental demand exists, it is not overwhelming, potentially allowing for steady but not explosive growth in the rental market. 70,625 is the median income figure for the area, which is important to consider when evaluating the financial stability of potential tenants and their ability to meet rental obligations. The data does not provide a specific number for days on market (DOM) or the percentage of listings that have had their prices cut, leaving some uncertainty around the speed of property sales and the competitiveness of pricing. Given these figures, investing in rental properties in Elizabeth, WV, under the Section 8 program appears viable, especially considering the lower median home values and reasonable market rents. However, the limited data on sales dynamics means that thorough due diligence on individual property performance is essential. 11.5% of the population being renters supports a modest but stable demand for rental housing. With a median income of 70,625, there is sufficient financial stability to support a healthy tenant base. The FMR of 950 is a key benchmark for setting rents, ensuring compliance with HUD guidelines. In conclusion, the market presents opportunities for Section 8 investments, with the caveat that investors must carefully assess local sales trends.
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.