Location: Taylor County, WV | Metro: Barbour 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 | $760 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,230 |
| 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 | $97,426 | 0.96% | C |
| 3BR | $1,230 | $161,582 | 0.76% | D |
| 4BR | $1,390 | $181,389 | 0.77% | D |
U.S. Census Bureau data (2024)
870 is the Fair Market Rent (FMR) for ZIP 26416 in the metro area for fiscal year 2026, indicating the maximum amount Section 8 participants can pay for rent. In contrast, the actual market rent as per the Census ACS stands at 793, which suggests that properties priced at the FMR level may still be competitive in the local rental market. The median home value in Philippi, WV is 133,265, providing a baseline for property values in the area. Renter share constitutes 25.2% of the population, underscoring a significant demand for rental properties. With a median income of 54,741, tenants in this ZIP code may find it challenging to afford market rents without assistance, making subsidized housing options like Section 8 particularly attractive. The data shows that the average number of days on market (DOM) is not available, which could imply either a stable market or insufficient data to draw conclusions. However, the price-cut share of 0.1% indicates that very few listings require price reductions to attract tenants, suggesting a robust rental market. Given these figures, landlords and small-portfolio investors in ZIP 26416 should consider participating in the Section 8 program as it offers a steady stream of tenants and a reliable source of income.
The disparity between the 870 FMR and the 793 market rent highlights an opportunity for landlords to offer slightly above-market rents while still remaining within the Section 8 guidelines. This strategy can help cover maintenance costs and provide a buffer against potential rent increases. Furthermore, the low price-cut share of 0.1% implies that rental properties in Philippi are generally well-priced, reducing the risk of overvaluation. While the median income of 54,741 is relatively modest, it aligns well with the affordability of both market and Section 8 rents, ensuring a pool of qualified applicants. The median home value of 133,265 also suggests that property investments in this area can be made with confidence, knowing that the underlying asset values are stable and potentially undervalued compared to larger metropolitan areas.
In summary, the data from ZIP 26416 presents a favorable landscape for landlords and small-portfolio investors interested in the Section 8 program. The combination of reasonable market rents, a significant renter population, and stable property values makes it a viable option for those looking to secure long-term, consistent returns. Participation in Section 8 is recommended for this area.
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.