Location: Union County, 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 | $1,370 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,880 | $366,999 | 0.51% | F |
| 3BR | $2,240 | $470,721 | 0.48% | F |
| 4BR | $2,500 | $635,387 | 0.39% | F |
| 5BR | $2,900 | $780,012 | 0.37% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 43064, which includes Plain City, OH, and Union County, is set at $1260 for the fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 housing program. In comparison, the market rent, as measured by the Zillow Observed Rental Index (ZORI), stands at $1958, indicating a significant gap between the FMR and what tenants might typically pay in the open market.
Voucher tenants in this area would only cash flow at the FMR rate if they were renting premium units. The difference between the market rent and the FMR means that landlords accepting Section 8 vouchers would see a net loss if they were to rent their standard units at the FMR. To achieve positive cash flow, landlords should consider higher-end properties or units with added amenities that justify a higher rental rate.
The median home value in ZIP 43064 is $541,580, which provides a context for understanding the local real estate market. When deriving the rent-to-price ratio, it becomes evident that renting at the FMR would yield a low ratio, suggesting that purchasing a home in this area and renting it out at the FMR would not be financially viable. However, the high median home value indicates a strong underlying property market.
The data shows a median Days on Market (DOM) of N/A, and a price cut share of 0.2%. These figures suggest that the local real estate market is stable, with homes selling quickly and without frequent price adjustments. While these metrics are more relevant to buying dynamics, they do indicate a robust overall market condition that could positively impact rental properties as well.
The strongest investor angle in this market is stability. Given the low price cut share and the quick sales, investors can expect consistent performance from their rental properties, even if cash flow is limited when renting at the FMR. This stability can provide a reliable income stream over time, making it an attractive option for small-portfolio investors looking for steady returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.