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 | $800 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $164,669 | 0.64% | D |
| 3BR | $1,290 | $188,670 | 0.68% | D |
| 4BR | $1,570 | $217,259 | 0.72% | D |
U.S. Census Bureau data (2024)
The median income in ZIP 26519, which includes Albright, WV, stands at $54,328. Given the market rate for rent at $682 per month according to Census ACS data, a household in this area faces significant challenges in affording housing. This monthly rent represents approximately 16% of the annual median income, indicating that a substantial portion of the average resident’s earnings must be allocated towards housing costs.
Comparatively, the voucher payment standard for Fair Market Rent (FMR) in ZIP 26519 for fiscal year 2024 is set at $960 per month. This amount is significantly higher than the market rate, suggesting that voucher holders have greater purchasing power when it comes to rental properties. The disparity between the market rate and the FMR highlights an affordability gap for non-voucher households, who may struggle to find suitable housing within their budget.
With 29.2% of the population renting and a total population of 2,363, the competition among landlords is relatively low. However, the affordability gap means that landlords who accept vouchers could attract a steady stream of tenants. These voucher recipients often have a guaranteed source of income for their rent payments, reducing the risk of non-payment.
For landlords considering their strategy regarding voucher versus cash-paying tenants, the decision should hinge on the desire for financial security and a stable tenant base. Accepting vouchers can provide a more reliable income source, given the higher payment standard compared to the local market rate. On the other hand, landlords who focus on cash-paying tenants must be prepared to offer competitive rates or amenities to stand out in a market where many potential renters face affordability constraints.
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.