Location: Knox County, OH | Metro: Coshocton County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP code 43006 for Section 8 properties, follow this decision tree:
Step 1: Does the Fair Market Rent (FMR) of $1,040 cover the debt service on a property valued at $281,434?
Yes. The FMR of $1,040 is sufficient to cover the debt service on a property of this value. This makes the investment viable from a financial standpoint.
No. If the FMR of $1,040 does not cover the debt service, the investment would not be financially sound. Debt service must be covered to ensure profitability.
It Depends. To make an informed decision, you need to calculate the exact debt service cost based on current interest rates and loan terms. If the debt service is higher than $1,040, then the answer is no; otherwise, it's yes.
Step 2: Is the market rent of $949 above, at, or below the FMR?
Above. If the market rent exceeds the FMR, landlords can potentially earn additional income from non-Section 8 tenants who pay market rates.
At. If the market rent equals the FMR, landlords will receive the FMR amount for their Section 8 units, but there is no potential for higher rental income from market-rate tenants.
Below. If the market rent is below the FMR, landlords will receive the FMR amount, which is higher than what the market currently offers. This can be advantageous if the FMR fully covers the debt service.
Step 3: Do the 28.9% of renters combined with the unknown days on market (DOM) indicate enough demand?
Yes. With 28.9% of residents being renters, there is a substantial rental market presence. However, the lack of specific DOM data means that while there is demand, the speed of unit turnover is uncertain. Landlords should still proceed with caution but consider this ZIP code as having reasonable demand.
No. If the percentage of renters is too low or the DOM is excessively high, indicating slow turnover, the demand might not be strong enough to support a Section 8 investment.
It Depends. Given the 28.9% renter population and the absence of DOM data, landlords should assess other local factors such as vacancy rates, economic indicators, and competition. These additional metrics will help determine if the demand is robust enough.
In summary, ZIP code 43006 presents a viable opportunity for Section 8 investments if the FMR of $1,040 covers the debt service on a $281,434 property. The market rent of $949 being below the FMR could be a positive factor. Lastly, the 28.9% renter population suggests there is demand, though further analysis is needed due to the missing DOM 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.