Location: Champaign County, OH | Metro: Champaign County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The ZIP code 43047, located in a small community with a total population of 18, presents unique challenges and considerations for both renters and landlords. Given the lack of specific data on median income and market rental rates, it's essential to rely on the available Federal Market Rent (FMR) standard of $1,050 for the metro area in fiscal year 2026.
A household in ZIP 43047 would need to evaluate if their income can support the $1,050 FMR set by the government for housing assistance. Without detailed local income data, it's difficult to assess individual affordability, but it's clear that the FMR serves as a benchmark for what is considered affordable in the region.
With an extremely low 0.0% of the population identified as renters, the competition among landlords is minimal. This suggests that there are few rental properties available, which could indicate a tight market for those looking to rent. However, the scarcity of rental units also means that landlords have limited opportunities to attract tenants through competitive pricing or amenities.
The affordability gap in ZIP 43047, as represented by the FMR, highlights the importance of understanding the financial needs of potential tenants. For landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants, the decision should be based on the availability of non-subsidized renters who can afford the $1,050 benchmark. If the local economy supports higher incomes capable of covering market rates above $1,050, then landlords might find more success with cash-paying tenants. Conversely, if the majority of the population qualifies for housing assistance, accepting Section 8 vouchers could be a strategic move to ensure steady occupancy and income.
In conclusion, landlords in ZIP 43047 must carefully consider the balance between accepting Section 8 vouchers at the $1,050 FMR and seeking out cash-paying tenants willing to pay potentially higher market rates. The decision should be guided by the economic realities of the area and the specific needs of the local tenant pool. Given the small population size and the absence of detailed income data, landlords should be prepared for a niche market where flexibility and understanding of tenant needs will be key to success.
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.