Section 8 Fair Market Rent (FMR) for ZIP 43068 - 2027

Investment Score for ZIP 43068

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,320
1 Bedroom	$1,410
2 Bedrooms	$1,680
3 Bedrooms	$2,000
4 Bedrooms	$2,280
5 Bedrooms	$2,645
6 Bedrooms	$2,962
7 Bedrooms	$3,199
8 Bedrooms	$3,359

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,680	$199,400	0.84%	C
3BR	$2,000	$282,600	0.71%	D
4BR	$2,280	$355,814	0.64%	D
5BR	$2,645	$418,313	0.63%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 43068 (Reynoldsburg, OH) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 43068, as per the 2026 data, is set at $1470 for a two-bedroom unit. This represents 25.0% of the median household income of $70,477 in Reynoldsburg, OH. The FMR for a three-bedroom unit is $1760, and for a four-bedroom unit, it is $1980. However, the actual rental prices in the market can be significantly higher. For instance, the Zillow median price for a two-bedroom home is $195,644, which translates to a monthly mortgage payment that could easily exceed the FMR. The price-to-FMR ratio for a two-bedroom unit is 11.1x, indicating that the median home value is much higher than what is covered by the voucher. This means that tenants using Section 8 vouchers face significant constraints in finding suitable housing. They must find landlords willing to accept the lower rent rates covered by the voucher, which might be challenging given the high market values. Landlords who do accept Section 8 vouchers often have to operate on a slim margin or even at a loss, especially if they own properties with values close to the Zillow median. #### Affordability & Renter Profile In ZIP code 43068, 42.4% of the population are renters, with a total population of 60,148. This indicates a substantial demand for rental housing, suggesting that the market is relatively tight. With a median household income of $70,477, many residents may struggle to afford the high market prices for homes, making rental properties a necessity. The occupancy rate of 96.1% further supports the notion that the rental market is robust and likely undersupplied relative to demand. Given the high proportion of renters and the tight market conditions, it is likely that many individuals rely on affordable housing options such as those covered by Section 8 vouchers. These tenants typically include low-income families, seniors, and disabled individuals who cannot afford market-rate rents. The affordability gap between the FMR and the actual market prices highlights the importance of these programs in ensuring that vulnerable populations can secure housing. #### Investor Angle From an investor perspective, the key question is whether the FMR levels allow for cash flow-positive investments. Given the FMR for a two-bedroom unit is $1470, and considering typical operating costs, maintenance, and vacancy rates, it is unlikely that an investment property would generate positive cash flow if purchased at the Zillow median price of $195,644. The price-to-FMR ratio of 11.1x suggests that the purchase price far exceeds the rental income potential under the Section 8 program. To determine the investment grade, we need to consider the potential returns against the purchase price. A conservative estimate of monthly mortgage payments on a $195,644 property would be around $1100-$1200, assuming a 30-year fixed-rate mortgage at a current average interest rate of about 6%. Adding in other expenses such as property taxes, insurance, and maintenance, the total cost could easily surpass the $1470 FMR for a two-bedroom unit. Therefore, the investment grade for properties in this ZIP code, particularly those intended for Section 8 tenants, would be considered low due to the limited cash flow potential. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should focus on smaller units such as one-bedroom apartments where the FMR is $1230. This is still a significant portion of the median income ($17.5% of $70,477), but it offers a better chance of covering operating costs and generating positive cash flow. 2. **Consider Lower-Priced Properties**: Investors should look for properties priced below the Zillow median. For example, a property priced at $150,000 would have a monthly mortgage payment of approximately $900, leaving room for additional expenses and still allowing for a positive cash flow when rented at the FMR of $1230 for a one-bedroom unit. 3. **Negotiate with Landlords**: Since the market is tight and there is a high demand for rental housing, investors might consider negotiating with existing landlords to either acquire their properties or enter into long-term lease agreements. This could help mitigate the risk of high acquisition costs and ensure a steady stream of Section 8 tenants. #### Bottom Line For investors focusing specifically on Section 8 properties, the recommendation for ZIP code 43068 is to **Skip** purchasing properties at the Zillow median price. The high price-to-FMR ratio makes it difficult to achieve positive cash flow, and the tight market conditions suggest that finding properties within the FMR range will be challenging. Instead, investors should explore other ZIP codes with more favorable price-to-FMR ratios or consider alternative investment strategies that do not rely solely on Section 8 vouchers. ### Conclusion ZIP code 43068 presents a challenging environment for Section 8-focused investors due to the high market prices and limited cash flow potential at the FMR levels. While the rental market is strong and undersupplied, the financial dynamics make it less attractive for those looking to generate positive cash flow through Section 8 vouchers. Investors should carefully evaluate the financial feasibility and consider alternative investment opportunities or strategies to align with the local market conditions.

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.