Section 8 Fair Market Rent (FMR) for ZIP 43953 - 2027

Location: Weirton-Steubenville, WV | Metro: Weirton-Steubenville, WV-OH MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$860
1 Bedroom	$860
2 Bedrooms	$1,120
3 Bedrooms	$1,440
4 Bedrooms	$1,680
5 Bedrooms	$1,949
6 Bedrooms	$2,183
7 Bedrooms	$2,358
8 Bedrooms	$2,476

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

11,274

Median Household Income

$74,107

Housing Units

5,362

Renter Percentage

32.5%

Occupancy Rate

94.1%

Renter Occupied

1,641

Housing Authorities Serving ZIP 43953

Jefferson Metropolitan Housing Authority (Steubenville, OH) - 824 Section 8 vouchers

The ZIP code 43953, encompassing the city of Steubenville, Ohio, presents a unique market for real estate investors interested in the Section 8 program. This area, known for its industrial history and recent shifts towards service-oriented economies, offers insights into rental dynamics that can inform investment strategies.

Fair Market Rent (FMR) for ZIP 43953 in fiscal year 2024 is set at $960. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher, providing a clear benchmark for rental prices in subsidized housing.
The market rent, as per the Census American Community Survey, stands at $899. This indicates that the average rent in the area is slightly below the FMR, suggesting a competitive market where landlords participating in Section 8 can potentially offer higher rents without exceeding the subsidy limits.
The median home value in Steubenville is $171,372. This relatively low median home value can be advantageous for investors looking to purchase properties at lower acquisition costs, while still benefiting from the FMR rates.
Renters make up 32.5% of the population. A significant portion of the residents are renters, which points to a steady demand for rental properties, including those that might participate in the Section 8 program.
The median income in the area is $74,107. This income level suggests that there is a segment of the population that could benefit from the Section 8 program, thereby ensuring a stable tenant pool for landlords willing to participate.

The analysis of these key metrics reveals a balanced opportunity for landlords and small-portfolio investors in Steubenville. With a market rent slightly below the FMR, landlords have a margin to work with when setting their own rental prices. The lower median home value allows for cost-effective property acquisitions, and the substantial renter share along with the median income levels indicate a viable tenant base for Section 8 participation. Overall, the area presents a favorable environment for those seeking to invest in affordable housing solutions through the Section 8 program.

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.