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 | $1,590 |
| 1 Bedroom | $1,700 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,410 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,020 | $268,444 | 0.75% | D |
| 3BR | $2,410 | $452,156 | 0.53% | F |
| 4BR | $2,740 | $564,745 | 0.49% | F |
| 5BR | $3,178 | $685,672 | 0.46% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 43035, Lewis Center, OH, suggests a robust environment for landlords and small-portfolio investors. With a median home value of $510,001, the market indicates strong pricing power, which is further reinforced by the fact that only 0.2% of listings have seen reductions. This low percentage of price reductions, combined with a swift 5-day median Days on Market (DOM), points to a seller's market where demand consistently outstrips supply. Landlords and investors can leverage this dynamic to maintain or even slightly increase rents without fear of significant vacancy rates.
On the rental side, the Forward Moving Rent (FMR) for ZIP 43035 in fiscal year 2024 is set at $1,580. However, the current market rent, as measured by the Zillow Observed Rent Index (ZORI), stands at $1,659. This gap between the FMR and the actual market rent signals an opportunity for landlords to align their rental prices closer to the market rate, thereby maximizing income potential. The slight premium in market rents over FMR suggests that tenants are willing to pay more than the projected figure, likely due to a combination of strong job markets and limited housing options.
For long-term investors, the setup in Lewis Center implies a steady appreciation thesis. Given the high median home values and the quick turnover of listings, it is reasonable to expect continued growth in property values. However, the appreciation will likely be moderate rather than explosive, as indicated by the minimal number of listings needing price reductions. This stability offers a solid foundation for investment, ensuring that properties will retain and potentially grow in value over time, providing a reliable source of capital gains.
The overall market conditions in ZIP 43035 favor those who are looking to invest in rental properties or hold onto assets for longer periods. The strong seller's market and favorable rental dynamics create a scenario where landlords and investors can expect to see consistent returns, both in terms of rental income and property appreciation, without the need for aggressive price adjustments or speculative bets on rapid growth.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.