Location: Tucker 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 | $810 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,320 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,320 | $175,097 | 0.75% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 26716 stands at $80,375, providing a solid financial foundation for households. However, when examining the cost of living, particularly housing, the landscape shifts. The market rate for rent, according to Census ACS data, is $924 per month. This figure represents a significant portion of the average household's budget, especially considering the percentage of renters in the area is 40.2%, indicating a notable demand for rental properties.
Comparatively, the Fair Market Rent (FMR) for ZIP 26716 in fiscal year 2024 is set at $890. This is slightly below the market rate but still offers a substantial payment for landlords participating in the Section 8 program. Given the total population of 944, the competition among landlords is likely to be moderate, with a noticeable segment of the market focused on affordable housing solutions.
The affordability gap between the median income and the market rate rent is evident. A household earning the median income would dedicate nearly 15% of their monthly income to rent alone at the market rate, which is a considerable expense. This gap underscores the importance of programs like Section 8, which aim to make housing more accessible for lower-income families. For those who qualify, the FMR of $890 is a more manageable figure, representing a smaller percentage of their overall income.
Landlords in ZIP 26716 should consider the dynamics of both cash-paying tenants and those utilizing vouchers. While cash-paying tenants might offer a smoother transaction process, the availability of Section 8 vouchers provides a reliable stream of income for units that meet the program standards. Moreover, the presence of such a program can help fill vacancies that might otherwise go unoccupied due to the high market rates.
In summary, the median income and market rate in ZIP 26716 indicate a challenging affordability situation for many households. Landlords can leverage the Section 8 program to attract tenants and maintain occupancy, while also ensuring compliance with the FMR guidelines. This strategy balances the financial realities faced by renters with the operational needs of landlords, fostering a sustainable rental market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.