Location: Morgantown, WV | Metro: Morgantown, 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 | $1,170 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,870 | $135,918 | 1.38% | A |
U.S. Census Bureau data (2024)
The market in ZIP 26410 presents a dynamic equilibrium between supply and demand, leaning towards a scenario where demand slightly exceeds supply. This inference is drawn from the Federal Market Rent (FMR) of $990 for the fiscal year 2024, which is notably lower than the reported market rent of $1,313. The discrepancy suggests that landlords can command higher rents than the federally subsidized rates, indicating a strong tenant market.
A median home value of $107,382 points to an affordable housing market, likely attracting both first-time buyers and renters. However, the low percentage of price cuts and days on market (DOM) data being unavailable hint at a stable market with minimal overhang of unsold properties, further supporting the notion that demand is robust.
The 7.7% renter share in ZIP 26410 is relatively low compared to national averages, suggesting that homeownership is more prevalent. Yet, this figure also implies that there is a segment of the population that relies on rental housing, creating a consistent demand for rental units. Over the long term, this could translate into sustained pressure on rental markets, especially if economic conditions or demographics shift towards favoring renting over buying.
Landlords and small-portfolio investors should be attentive to the balance between the federal rent assistance programs and the local market rent. While the FMR provides a benchmark for subsidized housing, the higher market rent reflects the willingness of tenants to pay more, potentially offering opportunities for landlords to maintain or increase their income levels.
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.