Location: Ritchie County, WV | Metro: Ritchie County, WV
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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $104,926 | 0.9% | C |
| 3BR | $1,170 | $163,208 | 0.72% | D |
| 4BR | $1,390 | $206,797 | 0.67% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 26362 in West Virginia for the metro fiscal year 2026 is set at $870. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It's important to note that this is the payment standard, meaning it's the cap on what the government will pay toward the tenant's rent, not necessarily the amount you'll collect.
In comparison, the average rent in this area, according to the latest Census American Community Survey (ACS), stands at $492. This indicates that the FMR of $870 is significantly higher than the typical market rate, potentially offering landlords a better financial return when participating in the Section 8 program.
The local renter share, which is the percentage of households that rent rather than own, is 16.4%. This suggests a moderate demand for rental properties in the area, but landlords should be aware that not all renters will qualify for Section 8 vouchers. The demand for Section 8 housing specifically could be lower, so it's crucial to understand the dynamics of the local rental market.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 26362 is around $127,860. This gives you an idea of the acquisition costs for potential rental properties. However, remember that the actual price of a property can vary widely depending on its condition, size, and location within the ZIP code.
Before committing to a Section 8 rental, verify that the property meets the minimum standards set by the Housing Quality Standards (HQS). These standards ensure that the rental unit is safe and habitable, which is a requirement for participation in the program. If your property doesn't meet these standards, you'll need to make necessary improvements before renting it out under Section 8.
In summary, the FMR of $870 provides a higher payment standard than the average local rent of $492, making Section 8 rentals potentially attractive. With a moderate demand for rentals and a median home value of $127,860, the initial investment might be worthwhile. Just ensure your property complies with HQS requirements to avoid any complications.
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.