Location: Union County, OH | Metro: Union County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 43036 in Union County, Ohio reveals a mixed outlook for Section 8 landlords and small-portfolio investors.
The rent math does not favor Section 8 participation. The Fair Market Rent (FMR) for ZIP 43036 in fiscal year 2024 is set at $1070. This figure is slightly above the estimated market rent of $1,000 based on Census ACS data. Landlords would need to ensure that their properties meet the required standards without exceeding the FMR cap, which can be challenging given the slight margin.
Acquisition appears affordable due to the relatively low median home value of $153,238. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts indicates uncertainty about the ease of acquiring properties in this area. Investors should proceed with caution and seek additional local insights before making purchase decisions.
Tenant demand is present but limited by the small population size. With a total population of 359 and a renter share of 38.2%, there are approximately 137 potential renters. This number is modest, but it suggests that there is a stable base of tenants who could benefit from Section 8 housing assistance.
In conclusion, while the median home value in ZIP 43036 makes property acquisition affordable, the slight mismatch between FMR and market rent, combined with the limited population and tenant pool, poses challenges for maximizing returns. Section 8 landlords should carefully evaluate the cost of maintaining rental standards and the availability of eligible tenants before investing in this area.
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.