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 | $75,651 | 1.32% | A |
| 3BR | $1,290 | $121,452 | 1.06% | B |
| 4BR | $1,430 | $134,237 | 1.07% | B |
U.S. Census Bureau data (2024)
The ZIP code 43935, encompassing Martins Ferry, OH, presents a dynamic housing market. With a Fair Market Rent (FMR) of $860 for fiscal year 2024 and an actual market rent of $804 according to the latest Census American Community Survey (ACS) data, there is a slight indication that rents are below the federal benchmark. This suggests a potential for upward pressure on rental prices if local conditions align with federal guidelines.
The low price-cut share at 0.3% implies that landlords and property owners are generally not having to lower their asking prices significantly to attract tenants, which could indicate a stable or slightly favorable rental market. However, the median home value of $97,125 is noteworthy, as it reflects the overall affordability of the area. This figure is indicative of a region where homeownership remains accessible to a broad range of income levels, potentially reducing competition for rental properties.
The 37.4% renter share highlights a significant portion of the population that relies on renting rather than owning homes. This high percentage of renters can exert long-term pressure on the housing market, creating a steady demand for rental properties. It also signals that a considerable number of residents might be sensitive to economic changes, such as job market shifts or increases in utility costs, which can impact their ability to afford housing and thus influence the local rental dynamics.
In summary, ZIP 43935 appears to have a balanced market with slight indications of upward rental pressure. The low price-cut share and median home value suggest a stable environment for both landlords and small-portfolio investors, with a notable renter base providing consistent demand. These factors contribute to a market in motion, where the interplay between supply and demand is finely tuned and responsive to broader economic trends.
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.