Location: Weirton-Steubenville, WV | Metro: Weirton-Steubenville, 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 | $900 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $67,881 | 1.74% | A+ |
| 3BR | $1,520 | $119,543 | 1.27% | A |
| 4BR | $1,770 | $128,627 | 1.38% | A |
U.S. Census Bureau data (2024)
The Section 8 thesis in ZIP code 43938, specifically Mingo Junction, OH, revolves around the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for FY 2024 is set at $890, while the Census ACS reports the market rent at $942. This creates a gap of $52, or approximately 5.8%, between what landlords can charge voucher tenants and the prevailing open-market rental rates.
Given that the FMR is lower than the market rent, landlords and small-portfolio investors must consider the implications of housing voucher tenants at rates below the open-market level. In Mingo Junction, where the median home value stands at $89,607 and the median income is $55,446, the decision to accept Section 8 vouchers should be carefully weighed against the potential financial impact.
Accepting voucher tenants at the FMR rate means landlords will receive $52 less per month than they could from open-market tenants. Over the course of a year, this amounts to a loss of $624 per unit. While the program guarantees timely payments, the reduced rate does not fully compensate for the market value of the property, especially when considering the overall economic context of the area.
Mingo Junction has a relatively low percentage of renters at 30.4%. This suggests that the majority of residents own their homes, which might limit the pool of potential voucher holders. However, the median income figure indicates that a significant portion of the population may rely on assistance programs like Section 8 to afford housing.
To summarize, the gap between the FMR and market rent in Mingo Junction, OH, poses a challenge for landlords. While accepting Section 8 tenants ensures a steady stream of income, it comes at a cost compared to renting at market rates. Landlords must decide whether the stability offered by the voucher program outweighs the financial shortfall relative to the $942 market rent.
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.