Section 8 Fair Market Rent (FMR) for ZIP 42444 - 2027

FY 2027 Fair Market Rent Rates

The investment risk assessment for ZIP code 42444 highlights several critical factors that could impact the success of a Section 8 rental property venture. Firstly, tenant turnover is a significant concern, especially when considering the market rent is not available but the Fair Market Rent (FMR) for the metro area is set at $870 for fiscal year 2026. This means landlords will be limited to this rate, which might not cover all operational costs if market rents are higher.

Vacancy exposure is another issue, as the days on market (DOM) is not specified. In areas with high competition, extended periods of vacancy can severely affect cash flow and profitability. Additionally, the lack of data on the typical home value and median income in ZIP 42444 makes it challenging to assess the financial health of potential tenants and the overall maintenance needs of properties. Deferred maintenance can become a substantial liability if not managed properly, leading to costly repairs and safety issues.

However, these risks are somewhat mitigated by the high concentration of renters in the area. The percentage of renters is not provided, but generally, high renter density indicates a robust demand for housing, including units supported by Section 8 vouchers. This demand can help stabilize occupancy rates and ensure a steady stream of income.

In summary, despite the uncertainties surrounding market rent, vacancy exposure, and deferred maintenance, the high renter share suggests a strong potential for voucher utilization, which can support consistent tenancy. Therefore, the overall risk for a first-time Section 8 landlord in ZIP 42444 is moderate.

Data Sources: FMR data from HUD (2027).

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.