Section 8 Fair Market Rent (FMR) for ZIP 43718 - 2027
Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $930 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$92,576
Housing Authorities Serving ZIP 43718
The ZIP code 43718, encompassing Saint Clairsville, OH, presents a modest yet stable rental market for landlords and small-portfolio investors. This area is characterized by its blend of residential neighborhoods and economic activities that support a steady demand for housing. Below is a concise market analysis based on specific data points.
- Fair Market Rent (FMR): The FMR for ZIP 43718 in fiscal year 2024 is set at $1050. This figure represents the maximum amount HUD will pay for a moderate-quality rental unit and serves as a benchmark for the rental market in the area.
- Market Rent: According to the latest Census American Community Survey (ACS), the average market rent for properties in ZIP 43718 is $1,317. This indicates that the actual rents commanded in the market exceed the FMR, offering landlords a slight premium over government standards.
- Median Home Value: The median home value in this ZIP code stands at $192,630. This relatively low median price suggests that the real estate market is accessible to a broad range of buyers, including first-time homeowners and investors looking to acquire property at a reasonable cost.
- Renter Share: Only 12.2% of the population in ZIP 43718 are renters, which implies that the majority of residents prefer to own their homes. However, this still leaves a significant portion of the market available for rental investments.
- Days on Market (DOM): The data for days on market is currently unavailable, making it difficult to assess the speed at which rental properties are typically filled in this area. Landlords should monitor local real estate trends closely to gauge the typical vacancy period.
- Median Income: The median household income in ZIP 43718 is $92,576. While this income level is not exceptionally high, it provides a solid foundation for tenants to afford modest rents, ensuring a steady stream of potential renters.
Synthesizing these data points, ZIP 43718 offers a balanced investment opportunity for landlords and small-portfolio investors. The modest yet above-FMR market rents suggest a reasonable return on investment, while the low median home value indicates an affordable entry point into the real estate market. Although the majority of the population owns homes, the 12.2% renter share ensures there is a viable market for rentals. Investors should be cautious about the lack of data on the speed of filling vacancies but can rely on the stable median income to underpin tenant affordability.
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.