Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 43909 reveals that the HUD Fair Market Rent (FMR) for the area is set at $860 for fiscal year 2024. This figure is the benchmark for what landlords can expect to receive from the government for housing units designated for voucher tenants. However, without specific data on the current market rents, it's challenging to determine precisely how the FMR compares to what non-voucher tenants might pay. This lack of comparative market rent data makes it difficult to assess whether voucher tenants will cashflow at the FMR rate, marginally contribute to cashflow, or only provide positive cashflow in premium units.
The median home value in ZIP 43909 is not available, which means we cannot calculate an exact rent-to-price ratio. Typically, this ratio helps investors understand the relative value of renting versus buying in a given area. Without this information, we must rely on other indicators to gauge the investment potential. The absence of data regarding the days on market (DOM) and the percentage of homes that require price reductions also limits our ability to fully evaluate the buy-versus-rent dynamics.
Despite these data gaps, the stability of the HUD FMR provides a reliable income stream for landlords and small-portfolio investors. Given the consistent funding from the government, landlords can count on steady rental payments from voucher tenants. This predictability is particularly valuable in areas where market rents fluctuate significantly. Therefore, the strongest investor angle in ZIP 43909 appears to be stability, ensuring a predictable and dependable revenue source from Section 8 tenants.
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.