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 | $860 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $880 | $115,289 | 0.76% | D |
| 2BR | $1,120 | $155,173 | 0.72% | D |
| 3BR | $1,380 | $244,122 | 0.57% | F |
| 4BR | $1,670 | $323,121 | 0.52% | F |
| 5BR | $1,937 | $408,023 | 0.47% | F |
U.S. Census Bureau data (2024)
ZIP code 26501, located in Morgantown, WV, stands out within the Morgantown, WV MSA metro based on its Federal Market Rent (FMR) and other housing metrics. The FMR for ZIP 26501 in fiscal year 2024 is set at $1,010. This figure is significantly lower than the market rent, which is $1,423. This indicates that the area is likely to be a value pocket for landlords and small-portfolio investors, offering rental income above the federally subsidized rate.
The median home value in ZIP 26501 is $217,733, which is also below the typical home values found in other ZIP codes within the Morgantown, WV MSA. This suggests that the area is more affordable for both renters and homeowners compared to the broader metro region.
A notable aspect of ZIP 26501 is its renter share, which is 39.1%. While this percentage is higher than the national average, it is not exceptionally high when compared to other urban areas. However, combined with the lower home values, it points to a potential sweet spot for Section 8 properties. Landlords can expect a steady demand from renters who qualify for federal assistance due to the lower barrier to entry for both renting and owning homes in this area.
In summary, ZIP 26501 represents a value pocket within the Morgantown, WV MSA. It offers lower FMR and home values compared to the metro average, while maintaining a decent renter share. This makes it an attractive option for those looking to invest in affordable housing with a reliable tenant base.
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.