Location: Wheeling, WV | Metro: Wheeling, WV-OH 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 | $700 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $132,726 | 0.75% | D |
| 3BR | $1,290 | $178,340 | 0.72% | D |
| 4BR | $1,430 | $198,979 | 0.72% | D |
U.S. Census Bureau data (2024)
ZIP code 43719 is located in a suburban neighborhood of Oakwood, OH. The area has a relatively small population of 2,323 residents, with 24.9% being renters. The median household income in this ZIP code stands at $49,091, indicating a modest economic profile. The median home value is $144,659, suggesting that homeownership is accessible to many residents but also that property values are not exceptionally high.
The rent economics in Oakwood present an interesting opportunity. The Fair Market Rent (FMR) for ZIP 43719 as of fiscal year 2024 is set at $860. However, the current market rent, according to the Census Bureau's American Community Survey (ACS), is significantly lower at $693. This discrepancy means that landlords participating in the Section 8 program can receive higher rental payments compared to the local market rate, which could be advantageous for maintaining profitability and covering costs associated with property management.
Given these conditions, ZIP 43719 is suitable for both hands-off voucher operators and hands-on value-add buyers. For those seeking a passive investment approach, the guaranteed income through the Section 8 program can provide steady cash flow without the need for extensive property improvements or active tenant management. On the other hand, value-add buyers can leverage the difference between FMR and market rent to invest in property enhancements, potentially increasing the overall value of their investments while still benefiting from the higher voucher payment rates.
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.