Section 8 Fair Market Rent (FMR) for ZIP 43033 - 2027

Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,260
1 Bedroom	$1,340
2 Bedrooms	$1,600
3 Bedrooms	$1,910
4 Bedrooms	$2,170
5 Bedrooms	$2,517
6 Bedrooms	$2,819
7 Bedrooms	$3,045
8 Bedrooms	$3,197

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

387

Median Household Income

$75,833

Housing Units

163

Renter Percentage

19.2%

Occupancy Rate

89.6%

Renter Occupied

A decision tree for evaluating whether to purchase property in ZIP code 43033 for Section 8 investment hinges on three key questions:

1. Does the Fair Market Rent (FMR) of $1150 cover the debt service on a property valued at $245,277?

No: The FMR of $1150 does not sufficiently cover the debt service on a property costing $245,277. Debt service includes principal and interest payments on a mortgage, which for a property of this value would likely exceed the FMR amount. This makes it financially unviable to acquire such a property solely relying on Section 8 tenants.

2. How does the market rent of $1,292 compare to the FMR?

Above FMR: The market rent is higher than the FMR at $1,292, indicating that landlords could potentially charge more than what is allowed under Section 8. However, since the first question already determined that the FMR is insufficient for debt service, this point is secondary unless considering a mixed-income approach where some units are rented at market rates and others at Section 8 rates.

3. Is there sufficient rental demand with 19.2% of residents being renters and an unspecified number of days on the market?

It Depends: With 19.2% of the population renting, there is a moderate level of demand. However, the lack of data regarding days on the market (DOM) means we cannot fully assess how quickly properties are rented out. If the DOM is low, it suggests strong demand; if high, it indicates a weaker rental market. Without this information, the decision to invest based on rental demand alone remains uncertain.

In summary, for ZIP 43033, the answer to the initial question of whether a landlord should buy here for Section 8 is No. The primary reason is that the FMR of $1150 is not adequate to cover the debt service on a property priced at $245,277. While the market rent exceeds the FMR, the fundamental issue of financial viability remains unresolved. Additionally, the rental demand appears moderate but requires further clarification on the DOM to make a definitive decision.

Data Sources: FMR data from HUD (2027). 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.