Location: Weirton-Steubenville, WV | Metro: Weirton-Steubenville, WV-OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 43948 in fiscal year 2024 is set at $1010. This figure represents the maximum amount that a landlord can receive under the Housing Choice Voucher Program, commonly known as Section 8, for renting a unit in this area. It's important to note that this is not the rent you will charge your tenant; rather, it is the reimbursement limit from the government.
In comparison, the average rent for the same area, based on Census American Community Survey data, is $863. This suggests that the FMR is higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program.
The renter share in ZIP 43948 is 26.3%, indicating a significant portion of the population relies on rental housing. This high percentage signals strong demand for rental properties, particularly those that are affordable. Given this demand, a Section 8 property could attract tenants quickly and maintain occupancy rates.
Regarding acquisition costs, the data shows it as N/A, which means there isn't specific information available about the cost of acquiring a rental property in this ZIP code. However, this does not necessarily mean it is unaffordable. Landlords should research local real estate values and consider the long-term benefits of stable income through the Section 8 program.
Before deciding to participate in Section 8 with a rental property in ZIP 43948, verify that your property meets all the necessary requirements set by the local housing authority. These requirements include safety, health, and structural standards, ensuring your property is habitable and up to code.
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.