Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 43934 presents a dynamic rental market that is influenced by several key factors. With a Fair Market Rent (FMR) set at $860 for the fiscal year 2024, landlords and small-portfolio investors have a benchmark for pricing their units. Although the specific market rent and price-cut share are currently unavailable, the high renter share of 51.4% suggests a significant portion of the population relies on rental properties, indicating sustained long-term housing pressure.
This high percentage of renters points to a market where demand is likely robust, even if not outpacing supply significantly. A large number of renters often correlates with limited homeownership opportunities, possibly due to economic conditions, affordability issues, or lifestyle preferences. This creates an environment where rental properties are essential and can be profitable for investors willing to adapt to local conditions.
The absence of data regarding the days on market (DOM) and median home value implies a lack of comprehensive information on the sales side of the real estate market. However, the focus on rental dynamics with the FMR figure indicates that the rental sector is well-regulated and monitored, which is crucial for understanding the local housing landscape.
In summary, ZIP 43934 is a market characterized by a strong reliance on rentals, driven by a high renter share. The FMR provides a clear guideline for pricing, ensuring that rental properties remain accessible while offering potential returns to investors. While specifics on the balance between supply and demand are unclear without additional data, the prominence of rentals suggests a steady demand for affordable housing solutions.
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.