Section 8 Fair Market Rent (FMR) for ZIP 43017 - 2027

Investment Score for ZIP 43017

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	$1,540
1 Bedroom	$1,650
2 Bedrooms	$1,970
3 Bedrooms	$2,350
4 Bedrooms	$2,670
5 Bedrooms	$3,097
6 Bedrooms	$3,469
7 Bedrooms	$3,747
8 Bedrooms	$3,934

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
1BR	$1,650	$188,133	0.88%	C
2BR	$1,970	$279,092	0.71%	D
3BR	$2,350	$494,838	0.47%	F
4BR	$2,670	$674,736	0.4%	F
5BR	$3,097	$1,032,441	0.3%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 43017 (Dublin, OH) #### Section 8 Voucher Dynamics In ZIP code 43017, the Fair Market Rent (FMR) for a two-bedroom apartment is set at $1740 per month for 2026. This represents approximately 15.4% of the median household income of $135,922, which indicates that it is a relatively affordable rent for the average resident. However, the actual rental market is significantly higher, with the Zillow median price for a two-bedroom home being $274,135. The price-to-FMR ratio of 13.1x suggests that the actual purchase price of homes is much higher than what the FMR would indicate for monthly rental rates. For voucher holders, this means that finding properties within the FMR limits can be challenging, as landlords might prefer higher-paying tenants or those who do not require vouchers due to the administrative burden and potential delays in payment. #### Affordability & Renter Profile The population of ZIP 43017 is 41,613, with 34.2% of residents being renters. This indicates a substantial rental market, but the high median household income suggests that the typical renter in this area is likely to be well-employed and financially stable. The occupancy rate of 95.7% points to a tight rental market, where demand is high and supply is limited. Given the high median household income and the relatively low percentage of renters, it is likely that many of the residents who choose to rent are doing so by choice rather than necessity, possibly because they are young professionals or families looking for flexibility while maintaining a high standard of living. #### Investor Angle From an investor’s perspective, the ZIP code 43017 presents a mixed picture. While the rental market is tight and demand is high, the actual rents commanded are far above the FMR levels. For example, a two-bedroom apartment renting at the Zillow median price would generate a monthly rent of approximately $1225 ($274,135 divided by 225 months, assuming a 20-year mortgage), which is significantly below the FMR of $1740. Therefore, an investor relying solely on FMR to set rents would likely find themselves in a cash-flow negative position. Additionally, the high price-to-FMR ratio of 13.1x implies that the initial investment required to enter this market is very high relative to the expected rental income. #### Specific Actionable Insights 1. **Targeting Properties Below FMR**: Investors should focus on acquiring properties that are priced below the FMR levels. For instance, a two-bedroom property renting at $1740 per month would be ideal for attracting Section 8 voucher holders. However, given the tight market and high purchase prices, this could be challenging. Investors might consider renovating older properties to bring them up to market standards without exceeding FMR limits. 2. **Alternative Rental Strategies**: Given the high price-to-FMR ratio, investors might consider alternative rental strategies such as short-term rentals or non-traditional housing units like micro-apartments. These strategies can potentially generate higher monthly returns compared to traditional long-term rentals at FMR levels. 3. **Landlord Incentives**: To attract landlords willing to accept Section 8 vouchers, investors could offer incentives such as expedited repairs, guaranteed rent payments, or other forms of support. This could help mitigate the administrative burden and make the properties more attractive to landlords. #### Bottom Line For Section 8-focused investors, ZIP code 43017 is generally not recommended. The high purchase prices and tight rental market mean that achieving cash-flow positive positions at FMR levels is difficult. The recommendation is to **skip** this ZIP code unless you have a strategy that can circumvent the high price-to-FMR ratio, such as offering significant landlord incentives or focusing on alternative rental models. --- This analysis is based strictly on the provided data and does not include any additional external information. It highlights the challenges and opportunities for Section 8-focused real estate investments in Dublin, OH.

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.