Location: Wetzel County, WV | Metro: Wetzel 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 | $790 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $104,695 | 1.19% | B |
U.S. Census Bureau data (2024)
The ZIP code 26419 presents an interesting scenario for both renters and landlords. The median income for a household here stands at $47,443. When compared against the market rate rent of $603 per month, it becomes evident that the financial strain on residents is significant. To put this into perspective, the average monthly income per household member would be approximately $3,953 if evenly distributed throughout the year, which is far below the $603 required for housing.
Adding another layer of complexity, the Fair Market Rent (FMR) as determined by the federal government for metro areas in fiscal year 2026 is set at $940. This figure represents the amount that Section 8 vouchers aim to cover, yet it significantly exceeds the actual market rate of $603. For those relying solely on their median income, affording even the lower market rate rent poses a challenge, let alone the higher FMR.
In ZIP 26419, where 36.9% of the 758 population are renters, the disparity between median income and rent costs highlights a substantial affordability gap. This means that a considerable portion of the renting population might struggle to pay the market rate without assistance, leading to fierce competition among landlords for tenants who can afford to pay in cash.
The takeaway for landlords considering voucher versus cash-pay strategies in ZIP 26419 is clear. While cash-paying tenants offer a smoother transaction process, the reality of the affordability gap suggests that accepting Section 8 vouchers could provide a steady stream of reliable rental income. Vouchers ensure that tenants receive support to meet the FMR, thus reducing the risk of vacancy and default payments. Landlords should weigh the benefits of voucher stability against the administrative complexities they entail.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.