Location: Pendleton County, WV | Metro: Grant County, WV
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 | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $242,546 | 0.51% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 26866 is built around the discrepancy between the Fair Market Rent (FMR) set at $880 per month for the fiscal year 2026 and the actual market rent reported at $777 per month according to the Census ACS. This represents a gap of $103, or approximately 13.2%, favoring the FMR over the market rate. The higher FMR makes ZIP 26866 a prime location for landlords and small-portfolio investors looking to capitalize on the yield play offered by voucher tenants.
The reason why voucher tenants can be seen as a yield play in this scenario is due to the guaranteed payment from the government to cover the rent, which exceeds the current market rate. With 10.2% of residents renting, the demand for affordable housing is present, but not overwhelming. However, the median home value of $215,228 and median income of $92,378 indicate that while homeownership is common, it's also relatively expensive. Therefore, rental properties that accept vouchers can offer a stable and predictable income source, above what the open market would typically bear.
This analysis is anchored in the broader context of ZIP 26866 where the economic landscape suggests a mixed market. The median income figure of $92,378 provides insight into the financial capabilities of residents, suggesting that many might struggle to afford market rents without assistance. As such, the higher FMR not only supports the financial needs of low-income families but also offers landlords a better return on investment compared to the open market rates.
Investors should note that while the FMR is higher, the acceptance of housing vouchers comes with certain responsibilities and regulations. It ensures that the housing quality meets specific standards and requires regular inspections. Nonetheless, the potential for a higher yield makes the inclusion of voucher tenants a strategic move for maximizing returns in ZIP 26866.
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.