Location: Upshur County, WV | Metro: Randolph County, WV
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The market in ZIP code 26224, characterized by a Fair Market Rent (FMR) of $930 for the fiscal year 2026, presents a dynamic landscape that is ripe for analysis. The absence of specific market rent data, along with other key metrics such as price-cut share, days on market (DOM), and median home value, suggests a less transparent market, possibly due to limited data availability or recent changes in the housing environment.
With a 39.6% renter share, it is evident that a significant portion of the population in 26224 opts for rental housing over homeownership. This high percentage indicates a substantial demand for rental properties, which can be attributed to various factors including affordability, lifestyle choices, and economic conditions. For landlords and small-portfolio investors, this implies ongoing pressure on housing supply to meet the needs of renters, potentially leading to a sustained interest in rental properties within the area.
The FMR figure of $930 provides a benchmark for the rental market, but without comparative market rent data, it's challenging to assess whether rents are above or below fair market levels. This could suggest either a balanced market or one where the official FMR does not fully capture the local rental dynamics. Landlords should monitor local rental trends closely to ensure their pricing aligns with both the FMR and actual market conditions.
The high renter share also signals potential challenges for homeownership initiatives, as it reflects a preference for renting over buying. However, it also points to a robust rental market, which is beneficial for those invested in rental properties. The dynamics at play here favor a steady stream of tenants, though the lack of additional data makes it difficult to predict if this trend will continue or if there will be shifts towards homeownership.
In summary, ZIP 26224 stands as a market driven by strong rental demand, evidenced by the significant renter share. While the official FMR offers a point of reference, the true trajectory of the market requires a deeper dive into local trends and conditions. Investors should consider these factors when evaluating opportunities in 26224.
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.