Location: Knox County, OH | Metro: Knox County, OH
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 | $1,010 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $256,604 | 0.55% | F |
| 3BR | $1,790 | $319,350 | 0.56% | F |
| 4BR | $1,860 | $415,274 | 0.45% | F |
| 5BR | $2,158 | $542,224 | 0.4% | F |
U.S. Census Bureau data (2024)
The potential risks for Section 8 investments in ZIP code 43028 in Howard, OH, must be carefully evaluated before proceeding. Tenant turnover is a significant concern, as the market rent of $1,011 is notably lower than the Fair Market Rent (FMR) of $1,390 for the metro area in fiscal year 2026. This disparity suggests that tenants may prefer higher-rent units, leading to frequent turnover and the associated costs of finding new tenants and maintaining properties.
Vacancy exposure is another critical issue, as the average days on market (DOM) is not available. Without this data, it's challenging to predict how long a property might remain vacant, which can lead to significant financial losses. Landlords should prepare for extended periods of vacancy and the need to manage properties effectively to attract and retain tenants.
The deferred-maintenance exposure is substantial given the typical home value of $316,428 and the median income of $91,186. These figures indicate that many residents may struggle to afford necessary repairs and maintenance, potentially leading to a higher demand for landlords to cover these costs. This can impact profitability and require careful budgeting for maintenance expenses.
However, the 8.4% renter share in Howard, OH, suggests a relatively high concentration of renters, which typically translates into greater demand for rental properties, including those accepting Section 8 vouchers. This demand can help mitigate some of the risks associated with tenant turnover and vacancy exposure, making it easier to find and keep qualified tenants.
Despite these risks, the high renter density in ZIP 43028 offers a stable base of potential tenants who rely on rental assistance. For landlords and small-portfolio investors, the key will be to balance the cost of maintenance and the risk of vacancy with the benefits of steady demand from voucher holders. The overall verdict for a first-time Section 8 landlord in this area is moderate risk.
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.