Section 8 Fair Market Rent (FMR) for ZIP 43016 - 2027

Investment Score for ZIP 43016

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,700
1 Bedroom	$1,820
2 Bedrooms	$2,180
3 Bedrooms	$2,600
4 Bedrooms	$2,950
5 Bedrooms	$3,422
6 Bedrooms	$3,833
7 Bedrooms	$4,140
8 Bedrooms	$4,347

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,180	$274,921	0.79%	D
3BR	$2,600	$428,281	0.61%	D
4BR	$2,950	$623,541	0.47%	F
5BR	$3,422	$862,394	0.4%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 43016 (Dublin, OH) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 43016, as set by HUD for 2026, is $1920 for a two-bedroom unit. This amount represents 21.0% of the median household income in Dublin, which stands at $109,972. The FMR is designed to reflect the average rent levels in the area, but it often serves as a benchmark for rental assistance programs like Section 8 vouchers. For voucher holders, the constraint is that landlords must agree to accept the voucher, and the rent cannot exceed the FMR. In Dublin, this means that a landlord would need to charge no more than $1920 per month for a two-bedroom unit to be considered affordable under the Section 8 program. #### Affordability & Renter Profile Dublin has a significant rental population, with 46.0% of residents renting their homes. The occupancy rate of 94.7% suggests a robust demand for housing in the area. Given the high median household income of $109,972, many renters in Dublin likely have the financial capacity to afford higher rents without assistance. However, the tight market conditions mean that even those with higher incomes may find it challenging to secure affordable housing. The FMR for a two-bedroom unit at $1920 is notably lower than the Zillow median price of $273,056 for similar units, indicating that rental properties are generally more affordable than ownership options. This ZIP code is likely attractive to young professionals, families, and individuals who prefer the convenience and lifestyle associated with urban living. Despite the high income levels, the tight market dynamics suggest that affordability remains a concern for many renters, particularly those relying on Section 8 vouchers. #### Investor Angle From an investor perspective, the cash flow potential in ZIP code 43016 can be analyzed using the FMR and the Zillow median price. The FMR for a two-bedroom unit is $1920, while the Zillow median price is $273,056. The price-to-FMR ratio is 11.9x, which is quite high. This indicates that the cost of acquiring a property is significantly greater than the expected rental income based on FMR guidelines. To determine if this ZIP code is cash-flow positive at FMR, we need to consider the typical expenses associated with property management, including mortgage payments, property taxes, insurance, maintenance, and other operational costs. Assuming a conservative estimate of 1% of the purchase price for annual property taxes ($2730), a 1% insurance premium ($2730), and an additional 10% for maintenance and other operational costs ($27,305), the total annual expenses would be approximately $32,765. Dividing this by 12 months gives us a monthly expense of around $2730. Given these figures, a landlord charging $1920 per month for a two-bedroom unit would face significant challenges in covering the expenses and generating positive cash flow. Therefore, the investment grade for this ZIP code, especially for Section 8-focused investors, is relatively low due to the high acquisition costs and the limited rental income allowed by FMR. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Since the FMR for smaller units (0BR and 1BR) is lower ($1490 and $1600 respectively), investors might consider focusing on developing or purchasing smaller units. These units are less expensive to acquire and manage, potentially allowing for better cash flow at the FMR rates. 2. **Seek Non-Section 8 Tenants**: Given the high price-to-FMR ratio, investors should consider targeting non-Section 8 tenants who can pay market rates. This would require marketing efforts to attract tenants willing to pay above the FMR, which could be feasible given the high median household income and strong rental demand in the area. 3. **Utilize Tax Credits and Incentives**: Investors should explore federal and state tax credits and incentives available for affordable housing developments. These can help offset some of the higher acquisition costs and improve the overall financial viability of the investment. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 43016 is to **Skip**. The high price-to-FMR ratio and the tight market conditions make it difficult to achieve positive cash flow when adhering strictly to FMR guidelines. Instead, investors should look into areas with a lower price-to-FMR ratio or consider alternative investment strategies that do not rely solely on Section 8 vouchers.

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.