Location: Wheeling, 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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $90,537 | 1.1% | B |
| 3BR | $1,290 | $165,108 | 0.78% | D |
| 4BR | $1,510 | $179,207 | 0.84% | C |
U.S. Census Bureau data (2024)
19.3% of Rayland, OH's residents are renters, indicating a moderate demand for rental properties in ZIP 43943. The Fair Market Rent (FMR) for the area, set at $860 for zip FY 2024, provides a benchmark for rental pricing that aligns closely with the $728 average market rent reported by the Census ACS. This suggests that landlords can expect to remain competitive while also meeting the federally established fair market standards.
$121,306 is the median home value in Rayland, OH, which is relatively low compared to many other regions, making it an attractive location for first-time homebuyers and investors looking to enter the market at a lower cost. However, the median income of $54,784 might pose challenges for some potential tenants to afford higher rents, emphasizing the importance of maintaining rents close to the FMR and market averages.
The lack of available data on the average days on market (DOM) and the percentage of price-cut share indicates that there may be limited activity in the real estate market, possibly due to the smaller size of the community or the stability of property values. This could mean that once a property is listed, it may take longer to sell or rent, and adjustments to the asking price might be infrequent.
Investors should note that the gap between the FMR and market rent is minimal, suggesting that the local rental market is efficient and that there is little room for significant rent increases without risking tenant turnover. Given the median income and the median home value, the rental market appears to be well-suited to the economic conditions of the area, offering reasonable affordability for both landlords and tenants.
A one-line Section 8 verdict for Rayland, OH would be: The modest FMR and market rent figures, combined with a manageable renter share and median income, make ZIP 43943 a viable option for Section 8 participation, ensuring stable occupancy and predictable cash flows.
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.