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 |
$860 is the Fair Market Rent (FMR) for ZIP 43937 in fiscal year 2024, according to HUD guidelines. This figure represents the maximum amount a Section 8 tenant can pay toward their housing costs. The lack of specific market rent data suggests a limited supply of rental properties in this area, which could indicate opportunities for landlords willing to enter the market. Similarly, the absence of median home value and median income data highlights the need for further investigation into the local real estate trends. The undefined percentage of renter share and price-cut share suggest that there is no significant pressure on property owners to reduce their asking prices, implying a stable market condition. With these considerations, it's important for landlords and small-portfolio investors to understand that the demand for affordable housing is present, but the supply is constrained. The Section 8 program can be a reliable source of tenants in this scenario, given the defined FMR. In conclusion, the real estate market in ZIP 43937 offers potential for those who can leverage the Section 8 program effectively, ensuring steady occupancy rates.
Section 8 Verdict: Suitable for landlords and small-portfolio investors looking to tap into the affordable housing market.
Data Sources: FMR data from HUD (2027).
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.