Section 8 Fair Market Rent (FMR) for ZIP 43985 - 2027

Location: Wheeling, WV | Metro: Wheeling, WV-OH MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$950
2 Bedrooms	$1,170
3 Bedrooms	$1,510
4 Bedrooms	$1,670
5 Bedrooms	$1,937
6 Bedrooms	$2,169
7 Bedrooms	$2,343
8 Bedrooms	$2,460

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

231

Median Household Income

$65,625

Housing Units

116

Renter Percentage

16.5%

Occupancy Rate

78.4%

Renter Occupied

The ZIP code 43985, located in Ohio, is a modest suburban area characterized by its relatively low population density and strong local economy. This region offers opportunities for investors interested in rental properties, particularly those familiar with the intricacies of the Section 8 housing voucher program.

The Fair Market Rent (FMR) for ZIP 43985 in fiscal year 2024 is set at $1030, providing a benchmark for landlords participating in the Section 8 program.
The market rent data is currently unavailable, which suggests that the area may be less competitive or that there's limited recent activity in the rental market.
The median home value is also not available, indicating a focus on the rental market rather than home sales in this area.
Renters make up 16.5% of the total population, a figure that highlights the potential demand for affordable rental units.
The median income in the area stands at $65,625, offering insight into the economic conditions of the residents and their ability to pay rent.
The Days on Market (DOM) data is not available, which could imply either a stable market where properties are quickly leased or a lack of comprehensive data on property turnover times.

Investors looking to enter the rental market in ZIP 43985 should focus on properties that align with the Fair Market Rent of $1030. The limited availability of market rent and median home value data suggests a niche market with potentially less competition. Given the median income of $65,625, tenants are likely to have the financial stability required to participate in the Section 8 program. However, the relatively low renter share of 16.5% means that there might be fewer potential tenants compared to areas with higher concentrations of renters. Overall, the ZIP code presents a viable opportunity for those who can navigate the specific requirements of the Section 8 program and are willing to conduct thorough research to fill gaps in available market data.

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.