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West Virginia market guide
DSCR loans in Fairmont, WV
Rental financing for Fairmont investors, qualified on the property's rent.
A DSCR loan in Fairmont turns on rent versus payment. Citywide medians from the Census are $916 a month for rent, $163,800 for home value and $987 a year for real estate taxes.
Local data for Fairmont investors
Median gross rent in Fairmont: $916, close to the West Virginia median of $872. Median owner-occupied home value: $163,800, close to the West Virginia median of $162,600. Those are citywide medians, so an individual address can sit well on either side of them. Put the two medians together and Fairmont shows a gross yield of 6.7%, close to the range investors often call workable. Because the rent number covers apartments as well as houses, expect single-family rentals to land above or below it.
| Indicator | West Virginia | Fairmont | Difference |
|---|---|---|---|
| Persons per household | 2.37 | 2.14 | |
| Share in 2-4 unit buildings | 4.9% | 13.9% | +185% |
| Share of homes detached | 70.9% | 71.8% | +1% |
| Workers on their own account | 6.8% | 4.7% | -31% |
| Renters paying 30%+ of income | 48.9% | 44.7% | -8% |
| Units sitting vacant | 15.4% | 11.0% | -29% |
| Typical construction year | 1976 | 1951 | |
| Annual rent divided by value | 6.4% | 6.7% | +4% |
| Households that rent | 25.1% | 36.9% | +47% |
| Tax as a share of home value | 0.53% | 0.60% | +13% |
| Annual property tax bill, median | $865 | $987 | +14% |
| Household income, median | $59,608 | $63,032 | +6% |
| Typical owner-occupied value | $162,600 | $163,800 | +1% |
| Typical monthly rent | $872 | $916 | +5% |
| Residents (Census estimate) | 1,778,373 | 18,221 |
The renter share is 36.9% in Fairmont, well above the West Virginia median of 25%, a sizable rental market. The median household brings in $63,032 (close to the West Virginia median of $59,608), with 45% of renters paying 30 percent or more of income toward rent.
Housing mix and age in Fairmont
Detached single-family homes make up 72% of the housing units in Fairmont, so most rentals here compete as houses, and rents follow neighborhood and school boundaries more than building type. The median home was built in 1951, so plan for older systems, lead-era paint questions and a repair reserve.
Vacancy is a quiet driver of rent. 11% of homes are vacant citywide and 9.7% of the rental inventory was listed for rent when the Census surveyed.
What the data means for Fairmont buyers
With a 6.7% rent-to-value ratio, Fairmont deals tend to work when the buyer controls the price and carrying costs, and struggle when either runs above the median. Age is the main physical risk here: median year built 1951 points to deferred maintenance in a share of listings. Renters are 37% of households, which gives investors a real tenant base to market to.
What costs can do to a Fairmont ratio
Real estate taxes are a line the rent has to cover. The median owner in Fairmont pays $987 a year (about 14% above the West Virginia median of $865), which is about 0.60% of the median home value. In rent terms, the tax bill equals roughly 9% of twelve months of median rent.
County-level hazard data from FEMA (National Risk Index 1.20) shows Marion County with relatively low overall risk and riverine flooding (relatively moderate), lightning (relatively moderate) and landslides (relatively low) at the top of the list.
| Hazard in Marion County, FEMA index | Level |
|---|---|
| Hail exposure | Relatively Low |
| Landslides exposure | Relatively Low |
| Lightning exposure | Relatively Moderate |
| Riverine flooding exposure | Relatively Moderate |
| Social vulnerability score | Relatively Moderate |
| Annualized loss estimate | Relatively Low |
| Composite risk | Relatively Low |
Price the insurance before you price the offer: a landlord quote for the Fairmont property, plus flood cover where the map requires it, goes into the payment your rent is divided against.
Running the numbers in Fairmont
For a rough fit test, treat $916 as the rent and $82 as the monthly tax. The payment cannot exceed $916 at a 1.00 ratio, so $834 is left after taxes for interest, principal, insurance and any association dues, shrinking to $651 if the lender wants 1.25.
Rules a Fairmont landlord should check
For Fairmont, treat local rental rules as an open question to close before you offer. Ask the city and Marion County about landlord registration, inspections and short-term rental permits, and check association documents too. If you are weighing nightly income in Fairmont, the state tax backdrop is this. West Virginia taxes lodging rentals of 30 consecutive days or less, so owners register with the State Tax Department and collect state and municipal sales tax, while county or municipal hotel occupancy taxes are separate and locally administered.
Deposits come due back within 60 days of the tenant leaving, and Fairmont owners should document condition at both ends of the lease.
Fairmont next to nearby cities
Among the nearby markets above, Clarksburg has the lowest median home value at $129,900 and Bridgeport the highest at $291,600, against $163,800 in Fairmont.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Wheeling | 40% | $917 | $146,500 | 26,350 | $794 |
| Clarksburg | 39% | $783 | $129,900 | 15,549 | $790 |
| Morgantown | 56% | $1,301 | $259,400 | 30,236 | $937 |
| Bridgeport | 25% | $1,759 | $291,600 | 9,252 | $1,105 |
| Fairmont | 37% | $987 | $163,800 | 18,221 | $916 |
What fills Fairmont rentals
Self-employment accounts for 4.7% of Fairmont's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. On the workforce side, government workers are about 22% of employment, 33% of adults hold a bachelor's degree or higher and 9% of commuters travel 45 minutes or more.
Fairmont State University are the named colleges for the Fairmont area, a source of steady tenants but also of a lease cycle that follows the academic calendar. Access runs through interstate access via I-79 and air service through Fairmont Municipal Airport (West Virginia), which shapes where commuters want to live and how long a showing takes.
Next steps for a Fairmont purchase
Ready to test a Fairmont deal? Use the calculator for the ratio, then start your application or send us the scenario.
More West Virginia markets
- All West Virginia DSCR loans
- DSCR loans in Bridgeport, WV
- DSCR loans in Morgantown, WV
- DSCR loans in Clarksburg, WV
- DSCR loans in Wheeling, WV
- Every market we cover
Sources and data notes
- American Community Survey tables, West Virginia
- FEMA county hazard table
- Wikipedia: Fairmont, West Virginia
- West Virginia security deposit statute (W. Va. Code §§ 37-6A-1, 37-6A-2, 37-6A-3, 37-6A-5)
- West Virginia State Tax Department, TSD 316 (West Virginia)
We took the Fairmont data from Census ACS five-year tables for 2020 to 2024, estimates with margins of error. West Virginia landlord-tenant summaries draw on the RedFlagLease dataset (CC BY 4.0) and the statutes linked above. Facts were checked in October 2026, and rules change.
A short buyer checklist
Before you commit on a Fairmont deal, confirm the rent with the lease or a market estimate, price the insurance for the exact address, and check how the taxes may change after the sale, so the ratio you run matches the one the lender calculates.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Lease or market rent: what counts in Fairmont?
A signed lease or the appraiser's rent schedule supplies the rent, depending on the program, and $916 is the Census median for Fairmont renters, only a benchmark.
What payment can a Fairmont rent support?
The denominator is the whole housing payment. Using Fairmont's median rent of $916, a ratio of 1.25 allows $733, and a ratio of 1.00 allows all $916.
What does Marion County charge in property tax, in practice?
About $987 a year at the median, which is 0.60% of value and about 14% above the West Virginia median of $865. Reassessment after a purchase can move that number, so get an estimate for the actual price.
Do DSCR lenders count short-term rental income in Fairmont?
Often, with conditions: legal use under city and association rules, documented income and an insurance policy that covers guests. Fairmont owners should check all three first.
What deposit rules apply to a WV rental?
Return is due within 60 days after the tenant leaves. The governing section is W. Va. Code §§ 37-6A-1, 37-6A-2, 37-6A-3, 37-6A-5.
Does hazard risk affect a Fairmont DSCR loan?
The county scores relatively low overall in FEMA's index, with riverine flooding leading. Parcel-level flood maps and a real insurance quote give the answer that counts.
Should a Fairmont rental be bought in an LLC?
Not required. An LLC borrower is routine for investor programs, with entity paperwork and a guaranty. Form the company before you go under contract in Fairmont.