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 | $63,987 | 1.56% | A+ |
| 3BR | $1,290 | $136,022 | 0.95% | C |
| 4BR | $1,430 | $131,873 | 1.08% | B |
U.S. Census Bureau data (2024)
The analysis of ZIP code 43906, located in Bellaire, OH, within the Wheeling, WV-OH MSA, reveals several key points regarding its suitability for Section 8 real-estate investment.
Firstly, the rent math works favorably. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $860, while the Census ACS reports the market rent at $689. This indicates that properties can be rented out at a higher rate through the Section 8 program compared to the general market, providing an opportunity for increased income.
Secondly, the acquisition of homes appears to be relatively affordable. With a median home value of $92,457, potential investors can enter the market without requiring large capital outlays. However, due to the lack of data on days on market (DOM) and the percentage of homes needing price cuts, it's challenging to provide a definitive assessment on the ease of acquiring properties. It's advisable to monitor these metrics closely before making any purchase decisions.
Lastly, there is sufficient tenant demand to support rental investments. The population of 7,779 residents includes a substantial 30.0% renter share, indicating a steady pool of potential tenants. This high percentage of renters suggests a robust market for rentals, which could be particularly beneficial for Section 8 properties.
In conclusion, ZIP 43906 presents a favorable environment for Section 8 real-estate investment, primarily due to the advantageous rent math where FMR exceeds market rates. Despite limited data on the affordability of acquisitions, the median home value remains low, offering accessible entry points for investors. Additionally, the significant renter share within the population ensures a consistent demand for rental properties, supporting the viability of such investments. However, investors should continue to track local real estate trends for a comprehensive understanding of the market dynamics.
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.