Location: Wetzel County, 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 | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $100,822 | 0.98% | C |
| 3BR | $1,190 | $158,458 | 0.75% | D |
| 4BR | $1,580 | $167,529 | 0.94% | C |
U.S. Census Bureau data (2024)
To determine if a landlord should buy in ZIP 26582 (Mannington, WV) for Section 8, follow this decision tree:
1) Does the FMR of $940 cover the debt service on a $120,537 property?
Yes. The Fair Market Rent (FMR) of $940 is sufficient to cover the debt service on a property valued at $120,537. This means that at least the mortgage payments will be covered by the rental income from a Section 8 tenant.
No. The FMR of $940 does not fully cover the debt service on a property valued at $120,537. Landlords must consider additional sources of income or subsidies to make up for the shortfall.
It Depends. The FMR of $940 covers part of the debt service but not all. The landlord needs to evaluate other costs and potential income sources before making a decision.
2) Is the market rent of $765 above, at, or below the FMR?
Above. If the market rent were above $940, landlords would have an opportunity to earn more than the FMR, which could offset some of the risks associated with Section 8 properties. However, in this case, the market rent is below the FMR, so landlords should not expect to charge more than $940 per month to Section 8 tenants.
At. The market rent of $765 is not at the FMR; therefore, this scenario does not apply. Landlords should not expect to charge the FMR rate since the market rent is lower.
Below. The market rent of $765 is below the FMR of $940. Landlords can charge the higher FMR rate to Section 8 tenants, providing a better return compared to the general market rent.
3) Are 16.1% of residents renters, and is the day DOM (Days On Market) sufficient to indicate demand?
Yes. With 16.1% of residents being renters, there is a decent demand for rental properties. The lack of data on Days On Market (DOM) suggests either low turnover or stable housing conditions. Given the FMR is higher than the market rent, Section 8 properties can attract tenants who might otherwise struggle to find affordable housing.
No. If the 16.1% renter population indicates insufficient demand, or if the DOM data were available and showed high vacancy rates, then buying into this ZIP code for Section 8 might not be profitable. However, with the FMR exceeding the market rent, there is still a strong argument for profitability.
It Depends. Without specific DOM data, it's difficult to assess the exact level of demand. However, the 16.1% renter population combined with the higher FMR suggests that demand is likely adequate for Section 8 properties. Landlords should also consider the local economy and employment trends to gauge long-term stability.
In conclusion, the FMR of $940 is sufficient to cover debt service on a $120,537 property and exceeds the market rent of $765, offering a competitive advantage. The 16.1% renter population signals demand, though the absence of DOM data leaves some uncertainty. Landlords should proceed with confidence, given the financial advantages, but remain aware of the broader economic context.
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.