Section 8 Fair Market Rent (FMR) for ZIP 43032 - 2027
Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,450 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,510 |
| 5 Bedrooms | $2,912 |
| 6 Bedrooms | $3,261 |
| 7 Bedrooms | $3,522 |
| 8 Bedrooms | $3,698 |
To determine if you should buy in ZIP code 43032 for Section 8 investments, follow this decision tree:
- Does the Fair Market Rent (FMR) of $1460 cover debt service on your property?
- Yes: Proceed to the next question. The FMR is sufficient to meet your financial obligations.
- No: Do not invest in this area. The FMR does not provide adequate income to cover your debt service.
- Is the market rent above, at, or below the FMR of $1460?
- Above: This indicates strong rental demand. However, Section 8 tenants can only pay up to the FMR. Consider if you can attract non-Section 8 tenants willing to pay higher rents.
- At: Market conditions align with the FMR. This is ideal for Section 8 properties as you can expect steady occupancy without relying on non-Section 8 tenants to bridge the gap between market rates and FMR.
- Below: There's a risk that market rents won't fully utilize the FMR potential. Focus on ensuring that the lower market rents still cover your costs effectively.
- Are the percentage of renters and days on market (DOM) indicative of sufficient demand?
- High percentage of renters + Low DOM: There is strong demand for rental properties in this area. This bodes well for both Section 8 and non-Section 8 tenants.
- Low percentage of renters + High DOM: Demand is weak, making it difficult to maintain occupancy. Avoid investing unless you can identify a niche or have a strategy to overcome these challenges.
- It Depends: If the percentage of renters is moderate and the DOM is neither too high nor too low, evaluate other factors such as the local economy, job market, and population growth trends. These will help you understand the broader context of rental demand.
Note: Specific percentages and DOM figures are required to make a definitive assessment. Without these figures, the decision hinges on additional qualitative analysis of the area.
Data Sources: FMR data from HUD (2027).
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.