Location: Tyler County, WV | Metro: Doddridge 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 | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $80,460 | 1.24% | A |
| 3BR | $1,250 | $147,166 | 0.85% | C |
| 4BR | $1,400 | $152,779 | 0.92% | C |
U.S. Census Bureau data (2024)
The ZIP code 26415, located in Pennsboro, WV, presents a dynamic housing market that is currently in flux. The Fair Market Rent (FMR) for the area, set at $960 for the fiscal year 2026, is notably higher than the market rent reported by the Census ACS at $646. This suggests that while there is an established benchmark for rental costs, actual market conditions might be experiencing downward pressure due to either oversupply or economic factors affecting tenants' ability to pay.
A median home value of $102,876 indicates that Pennsboro is relatively affordable compared to many other regions in the United States. However, without specific data on the percentage of price cuts or days on the market (DOM), it's challenging to definitively state whether supply is outpacing demand or vice versa. Nonetheless, the gap between the FMR and market rent implies that landlords might be adjusting their prices to remain competitive, which could point towards a slight surplus in rental properties.
The 14.6% renter share provides insight into the long-term housing pressures in Pennsboro. A lower renter share typically means a smaller proportion of residents are renting, which can indicate a stable environment where homeownership is more prevalent. This stability, however, doesn't necessarily translate into high demand for rentals. Instead, it suggests that the rental market serves a niche but potentially consistent segment of the population, possibly including those who prefer renting over buying or have specific needs that renting accommodates better.
In summary, ZIP 26415 exhibits characteristics of a market where affordability is a key factor, and the rental sector is adjusting to economic realities. The dynamics between the FMR and actual market rents suggest a cautious approach by landlords, indicating a balance between supply and demand that favors neither side overwhelmingly. The modest renter share points toward a community where homeownership is strong, yet the rental market continues to serve a particular demographic effectively.
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.