Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $219,745 | 0.61% | D |
| 3BR | $1,580 | $302,841 | 0.52% | F |
| 4BR | $1,800 | $366,946 | 0.49% | F |
U.S. Census Bureau data (2024)
Ashley, OH, represented by ZIP code 43003, is a modest-sized community with a total population of 3,723 residents. Only 18.1% of these residents are renters, indicating a predominantly owner-occupied neighborhood. The median household income in Ashley stands at $69,852, reflecting a middle-class area where residents have stable financial footing. The median home value is $272,080, suggesting a mix of affordable and moderately priced housing options.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 43003 is set at $1,090 for the fiscal year 2024. This figure is slightly above the reported market rent of $1,054 based on the latest Census American Community Survey (ACS) data. The higher FMR indicates that the government is willing to pay a premium for rental units, which can be beneficial for landlords participating in the Section 8 program. This means that landlords can potentially secure higher rents through vouchers compared to the average market rate.
Given the characteristics of Ashley, OH, it appears to be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the relatively high FMR versus market rent provides an opportunity to generate steady cash flow with minimal management effort. However, for value-add investors looking to improve property values, the moderate home values and middle-income demographics present a chance to enhance properties and increase their worth over time. Both strategies can be effective depending on the investor's goals and resources.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.