Location: Union County, OH | Metro: Columbus, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
ZIP code 43077 has a population of 269 individuals, with only 15.6% of them being renters. This indicates that the area is predominantly homeowner-dominated rather than renter-heavy. The low percentage of renters suggests that the demand for Section 8 housing vouchers will be relatively scarce.
The median household income in this ZIP is $104,545, which is significantly higher than the average market rent of $967. To put this into perspective, the typical rent eats up approximately 9.2% of the local median income. This figure is calculated by dividing the market rent ($967) by the median household income ($104,545), then multiplying by 100 to get the percentage.
Comparing the market rent to the Fair Market Rent (FMR) set at $1,250 for FY 2024, it's clear that the actual rents are below the FMR. This means landlords could potentially charge closer to the FMR without exceeding what is considered affordable based on HUD standards.
A landlord in ZIP 43077 can expect tenants who are likely to be financially stable, given the high median income relative to the rent. However, the limited number of renters implies that finding eligible Section 8 tenants might be challenging. Those who do qualify for vouchers would represent a smaller portion of the total rental market.
To summarize, ZIP 43077 is not an ideal location for focusing on Section 8 tenants due to its low percentage of renters and high median income. Landlords should prepare for a niche market where voucher usage is less common, and tenants are more likely to have higher incomes relative to their rental costs.
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.