Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 43972 in fiscal year 2024 is set at $980. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you'll receive; rather, it's the payment standard used by the housing authority to determine how much they will pay toward your tenant's rent.
While the local median rent for ZIP 43972 is currently listed as N/A, we can still analyze the potential demand based on the fact that 17.4% of the population are renters. This indicates a significant portion of the community that might be interested in affordable housing options, making Section 8 vouchers a viable choice for attracting tenants.
The acquisition cost for properties in this area is also listed as N/A, which means there isn't enough data to provide an accurate average price per square foot or total property value. However, this doesn't necessarily mean there aren't good deals to be found. You should focus on finding properties that are below the $980 FMR to ensure you can participate effectively in the program.
Before committing to a Section 8 rental property in ZIP 43972, you must verify that the property meets all the necessary inspection criteria set by the local housing authority. These inspections are crucial as they determine whether the property is safe, decent, and sanitary enough to qualify for the program. If the property fails any part of the inspection, you risk losing out on the rental income from the voucher 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.