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 | $1,330 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $469,421 | 0.36% | F |
| 3BR | $2,030 | $572,352 | 0.35% | F |
| 4BR | $2,300 | $684,052 | 0.34% | F |
| 5BR | $2,668 | $832,294 | 0.32% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 43021, Galena, OH, in fiscal year 2024 is set at $1470. This figure represents the payment standard for Section 8 housing vouchers, which is the maximum amount that the Housing Choice Voucher program will pay towards your rent. It does not mean that you will receive this exact amount; rather, it is the cap on what the government will contribute.
In comparison, the average rent for the area, according to Census ACS data, is $1364. This indicates that the FMR is slightly higher than the typical market rate, potentially giving you a bit more flexibility in pricing your rental units. However, it's important to note that tenants will still be responsible for paying a portion of their income towards rent, typically around 30%, with the rest covered by the voucher.
The renter share in Galena, OH, is 5.7%. This suggests that there is a relatively low demand for rental properties compared to other areas. However, this can also mean that the competition among landlords might be less intense, making it easier to find tenants who qualify for the Section 8 program. Given the low renter share, it's crucial to understand the local tenant pool and ensure that your property meets the necessary requirements for the program.
When considering the acquisition cost of a property in this area, the median home value is approximately $640,024. This figure is significant when evaluating whether a Section 8 rental is financially viable. It's important to factor in not only the FMR but also the potential for lower occupancy rates due to the smaller renter population and any additional costs associated with maintaining eligibility for the Section 8 program.
Before you make the decision to convert your property into a Section 8 rental, verify that your property meets all the minimum standards set by the program. These standards include ensuring that your property is safe, decent, and sanitary. Non-compliance can result in reduced payments or even termination of your contract with the housing authority.
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.