Location: Noble County, OH | 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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $237,535 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 43773 presents a dynamic rental market that is currently favoring demand over supply. This inference is drawn from the fact that the Fair Market Rent (FMR) set at $860 for fiscal year 2024 is notably lower than the actual market rent of $1,032 as reported by the Census Bureau's American Community Survey (ACS). This gap suggests that landlords can charge above the government-set benchmark, indicating strong tenant interest and competition for available units.
The median home value of $183,750 provides context to the overall affordability of the area. However, the absence of data on price-cut shares and days on market (DOM) means we cannot quantify the exact level of supply pressure. Nonetheless, the high market rent compared to the FMR implies that there is less incentive for homeowners to sell and convert their properties into rentals, which could be keeping the rental supply tight.
A significant 16.9% of the population in ZIP 43773 are renters. This statistic points towards an ongoing long-term housing pressure, as a larger proportion of residents choosing to rent rather than buy indicates either a lack of desire or ability to purchase homes. It suggests that rental properties will continue to be in demand, supporting the notion that landlords and small-portfolio investors can expect steady occupancy rates and potentially growing rents if demand persists.
The market in ZIP 43773 is characterized by tenants willing to pay above the FMR, which reflects positively on the investment potential for rental properties. Landlords should monitor local economic indicators closely to ensure they align with the current favorable conditions for rental income.
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.