Location: Union County, 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 | $1,040 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,460 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,780 | $402,161 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 43029 in fiscal year 2024 is set at $1130. This figure represents the payment standard for Section 8 rentals, which is the amount the Housing Authority will pay towards your tenant's rent. It does not necessarily reflect the total rent you can charge; you may ask for additional money from the tenant if they can afford it, but the maximum assistance will be capped at $1130.
In comparison to other areas, the local median rent is currently unavailable. However, given that 28.0% of residents in this area are renters, there is a significant demand for affordable housing options. This percentage indicates that nearly three out of every ten households in ZIP 43029 are looking for rental properties, making it a viable market for Section 8 rentals.
If you're considering purchasing a property to use as a Section 8 rental, the average acquisition cost stands at $348,067. This is the price you might expect to pay for a typical home in the area, though actual costs can vary based on the condition and size of the property.
Before proceeding with a Section 8 rental in ZIP 43029, ensure that the property meets all necessary Housing Quality Standards (HQS). These standards are set by the Housing Authority and include criteria such as structural soundness, electrical safety, and compliance with health codes. A property that fails to meet these standards will not qualify for the program, so verifying HQS compliance is critical to avoid delays and unnecessary expenses.
Understanding the local rental landscape and the specific requirements for Section 8 participation can help you make an informed decision about investing in this market. With a clear demand for affordable housing and a defined payment standard, ZIP 43029 offers a stable environment for landlords and small-portfolio investors interested in Section 8 rentals.
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.