Location: Morgantown, WV | Metro: Morgantown, WV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
The analysis of ZIP code 26544 within the Morgantown, WV MSA reveals several key points regarding its suitability for investment, particularly for Section 8 landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 26544 in fiscal year 2024 is set at $1090. However, due to the lack of available data on market rents, it's impossible to directly compare the FMR against typical rental prices. This gap in information could indicate either an underserved market or a lack of transparency in local rental pricing.
Regarding the affordability of property acquisitions, the median home value in ZIP 26544 is not available, nor is the average number of days on the market (DOM) or the percentage of homes that have been discounted. Without these specifics, it's challenging to gauge the competitiveness of the housing market and the potential costs associated with acquiring properties.
Tenant demand is another critical factor. The population and the percentage of renters in ZIP 26544 are also not specified. This missing data makes it difficult to assess the size of the potential tenant pool and the likelihood of finding qualified Section 8 tenants.
Verdict: Investing in ZIP 26544 presents significant challenges due to the lack of comprehensive data on market rents, median home values, days on the market, price-cut shares, and tenant demographics. To make a sound investment decision, additional research into these areas is essential. While the FMR provides a baseline for rental income, the absence of other key metrics means that the risk and potential return cannot be fully evaluated.
Data Sources: FMR data from HUD (2027).
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.