Location: Morgantown, WV | Metro: Morgantown, WV MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
ZIP code 26705, located within the Morgantown, WV Metropolitan Statistical Area (MSA), presents a unique profile when compared against typical ZIP codes within the same MSA. The Fair Market Rent (FMR) for ZIP 26705 stands at $890 for fiscal year 2024, while specific market rent data is currently unavailable. However, the median home value in this ZIP is listed at $132,205, indicating a relatively affordable housing market.
A notable feature of ZIP 26705 is its renter share, which is 25.7%. This figure suggests that a significant portion of residents are renters, potentially making it an attractive area for landlords. When considering the relationship between renter share and home values, ZIP 26705's lower-than-average home values combined with a higher-than-average renter share can be indicative of a Section 8 sweet spot. This is because areas with a high concentration of renters and lower home values often have a greater number of tenants eligible for Section 8 housing assistance.
In comparison to other ZIP codes within the Morgantown, WV MSA, ZIP 26705 leans towards being a value pocket. The FMR of $890 aligns with the overall affordability of the region, and the median home value of $132,205 is likely below the average for the entire MSA. The lack of market rent data prevents a direct comparison on that metric, but the existing data points towards a neighborhood where rental properties could be particularly lucrative for landlords and small-portfolio investors, especially those interested in Section 8 tenancy.
The combination of a substantial renter population and comparatively low home values makes ZIP 26705 a promising investment opportunity for those looking to capitalize on the demand for affordable rental housing within the Morgantown, WV MSA. Landlords should consider the potential benefits of having a portfolio in this ZIP code, including the possibility of attracting Section 8 tenants, who provide a stable source of income due to government subsidies.
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.