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 | $930 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $950 | $162,847 | 0.58% | F |
| 2BR | $1,210 | $210,735 | 0.57% | F |
| 3BR | $1,490 | $276,854 | 0.54% | F |
| 4BR | $1,800 | $360,929 | 0.5% | F |
| 5BR | $2,088 | $434,541 | 0.48% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP 26505 real estate market, centered around Morgantown, WV, reveal a balance between supply and demand, but with subtle indicators pointing towards slight demand pressure. The Fair Market Rent (FMR) for the area, set at $1,120 for zip FY 2024, is notably lower than the actual market rent, which stands at $1,285 according to ZORI. This suggests that the rental market is slightly ahead of what the government considers fair, indicating a healthy demand for rental properties.
A further insight into the market's health comes from the 0.1% price-cut share, which is exceptionally low. This statistic implies that landlords and property owners have little need to reduce their asking prices to attract tenants, a sign of steady demand. Additionally, the days on market (DOM) for rental listings is relatively short at 50 days, reinforcing the idea that demand is robust enough to keep listings moving quickly.
The median home value in ZIP 26505 is $253,582, reflecting a moderate affordability level for homeownership. However, with a 67.5% renter share, it's clear that a significant portion of the population prefers renting over owning. This high percentage of renters can create long-term housing pressure, as it signals a consistent demand for rental units rather than a shift towards homeownership. Landlords and small-portfolio investors should be aware that this demographic trend could sustain a strong rental market over time.
In summary, ZIP 26505 presents a market where demand is currently meeting supply effectively, especially in the rental sector. The rental market is slightly ahead of government benchmarks, and the low price-cut share and quick DOM indicate a favorable environment for landlords. The high renter share suggests that this trend is likely to persist, providing a stable foundation for rental investments in the 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.