Location: Morgantown, WV | Metro: Morgantown, WV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
ZIP code 26524, located within the Morgantown, WV MSA, presents a unique profile compared to other ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 26524 is set at $890 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it represents the maximum rent that can be charged for federally assisted housing units.
In contrast to the FMR, both the market rent and home values for ZIP 26524 are listed as N/A, indicating a lack of publicly available data on these metrics. However, the 0.0% renter share is a significant point of divergence. This means that none of the households in ZIP 26524 are renting their primary residence, which is unusual when compared to typical ZIP codes within the Morgantown, WV MSA where rental properties are more common.
The absence of rental properties and the presence of a defined FMR suggest that 26524 might be primarily composed of owner-occupied homes or possibly has a very specialized residential makeup. Given the lack of market rent and home value data, it's challenging to definitively classify 26524 as a value pocket, mid-tier neighborhood, or premium sub-market. However, the low renter share implies that there is little competition from private rentals, making it a less attractive area for traditional rental investments.
For landlords interested in Section 8 housing, ZIP 26524 could still offer opportunities due to the established FMR. Yet, the absence of renters indicates that this ZIP code may not be a sweet spot for Section 8 properties either, unless there is an unreported influx of renters into the area specifically for subsidized housing. Landlords should consider the broader context of the Morgantown, WV MSA and look into the specific characteristics of ZIP 26524 to determine if it aligns with their investment goals.
Data Sources: FMR data from HUD (2027). 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.