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 | $790 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $124,672 | 0.79% | D |
| 3BR | $1,190 | $194,301 | 0.61% | D |
| 4BR | $1,500 | $246,880 | 0.61% | D |
U.S. Census Bureau data (2024)
In ZIP 26537, which includes Kingwood, WV, within the Morgantown, WV MSA metro area, the rental market presents a unique opportunity for Section 8 investors. According to HUD's Fair Market Rent (FMR) for fiscal year 2024, the FMR for zip scope in this area is set at $890. In contrast, the Census American Community Survey (ACS) indicates that the current market rent is approximately $687. This difference suggests that voucher tenants would generally cashflow at the FMR level, providing a positive financial outlook for landlords.
The median home value in ZIP 26537 is $179,686. Using this figure, we can derive a rent-to-price ratio. With an average market rent of $687, the annual rent would be approximately $8,244. This results in a rent-to-price ratio of about 4.59%, calculated as $8,244 divided by $179,686. This ratio indicates that the rental income generated from properties in this area is relatively low compared to the property values, but it still offers a stable and predictable source of income for investors.
The absence of specific data on median DOM and the percentage of price cuts does not significantly impact the analysis since the focus is on rental versus buying dynamics. However, it is important to note that these metrics could provide additional insights into the local real estate market's liquidity and competitiveness.
The strongest investor angle in ZIP 26537 is likely cashflow, given the discrepancy between the HUD FMR and the actual market rent. This allows landlords to benefit from higher rents paid by voucher holders, while also enjoying the stability of the rental market in this region.
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.