Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The ZIP code 43928 presents a unique market scenario that is currently in flux. With a Fair Market Rent (FMR) of $1020 for the fiscal year 2024, it indicates a stable rental benchmark set by HUD, which landlords can use as a reference point for pricing their units. However, the absence of specific market rent data suggests that the local rental market might be less active or that there's limited recent activity to establish a reliable average.
The lack of percentage data on price-cut share and days on market (DOM) points to a possibly low volume of rental transactions, indicating that either there isn't enough turnover to generate significant data or the market is relatively static. This could mean that landlords who are renting properties in this area are likely to maintain their asking rents without needing to adjust them frequently to attract tenants.
A median home value figure not being available implies that the ZIP code may have a predominantly rental-based housing structure, or that there's insufficient data on property sales to provide a comprehensive overview of the residential market. This absence of home sale data can also indicate that the market is primarily focused on rentals rather than home purchases, which is further supported by the 0.0% renter share statistic.
The 0.0% renter share is particularly noteworthy. It suggests that virtually all residents in ZIP 43928 own their homes, which is unusual and points to a long-term trend of homeownership over renting. This high level of homeownership can exert downward pressure on the rental market, as fewer people are looking for rental properties. It also means that any increase in demand for rentals could lead to a sharp rise in rental rates if supply remains constrained.
Landlords and small-portfolio investors should be aware that the dynamics in ZIP 43928 are heavily skewed towards homeownership, which could affect the liquidity and demand for rental properties. The stable FMR provides a baseline, but the lack of other market indicators suggests caution and thorough research into local trends before making investment decisions.
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.