Section 8 Fair Market Rent (FMR) for ZIP 43110 - 2027

Investment Score for ZIP 43110

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	$1,260
1 Bedroom	$1,340
2 Bedrooms	$1,600
3 Bedrooms	$1,910
4 Bedrooms	$2,170
5 Bedrooms	$2,517
6 Bedrooms	$2,819
7 Bedrooms	$3,045
8 Bedrooms	$3,197

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	$1,600	$208,659	0.77%	D
3BR	$1,910	$320,461	0.6%	F
4BR	$2,170	$406,958	0.53%	F
5BR	$2,517	$538,841	0.47%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 43110 (Columbus, OH) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 43110 in Columbus, OH, is set by HUD for 2026 as follows: - 0BR: $1110 - 1BR: $1190 - 2BR: $1430 (which represents 22.2% of the median household income) - 3BR: $1710 - 4BR: $1930 These figures represent the maximum rent that a Section 8 voucher holder can pay for a unit based on the number of bedrooms. However, the actual rental market in ZIP 43110 might be different. The Zillow median price for a 2BR unit is $205,237, which suggests that the property values are relatively high. Given the price-to-FMR ratio of 12.0x, it indicates that the actual rent for a 2BR unit could be significantly higher than the FMR of $1430. This means that voucher holders would face significant constraints in finding affordable housing units that meet their needs and budget. #### Affordability & Renter Profile ZIP code 43110 has a population of 43,544, with 35.7% of residents being renters. The occupancy rate is 95.0%, indicating a tight rental market where most available units are occupied. The median household income in the area is $77,442, and the FMR for a 2BR unit is $1430, which is 22.2% of the median income. This suggests that the rental market is relatively affordable for the average resident, but it may still pose challenges for lower-income households who rely on Section 8 vouchers. Given the high occupancy rate and the significant proportion of renters, the demand for rental properties is strong. However, the high price-to-FMR ratio implies that there is a mismatch between the actual rental costs and the FMR, making it difficult for voucher holders to find suitable housing. The tight market also means that landlords have more leverage to charge higher rents, further exacerbating the affordability issue for voucher recipients. #### Investor Angle From an investor perspective, the key question is whether the rental market in ZIP 43110 can generate positive cash flow at the FMR levels. Based on the Zillow median price for a 2BR unit ($205,237), the actual rent could be much higher than the FMR. For example, if we assume a typical rental yield of 5% to 7%, the monthly rent for a 2BR unit would range from $855 to $1197. However, since the price-to-FMR ratio is 12.0x, the actual rent could be closer to $16,400 annually, or approximately $1367 per month. This means that while the FMR is $1430 for a 2BR unit, the actual rent could be higher, potentially leading to negative cash flow for investors relying solely on FMR. The investment grade would be considered low due to the difficulty in finding tenants willing to pay the FMR and the potential for higher maintenance costs in a densely populated area. #### Specific Actionable Insights 1. **Target Properties Below FMR**: Investors should focus on acquiring properties that are priced below the FMR levels to ensure positive cash flow. For instance, a 2BR unit priced at $1300 per month would be more attractive to voucher holders and provide a better financial outcome for investors. 2. **Consider Smaller Units**: Given the high price-to-FMR ratio, smaller units such as 0BR or 1BR might offer better opportunities for positive cash flow. These units typically have lower maintenance costs and can be rented out at rates closer to the FMR. 3. **Diversify Tenant Base**: To mitigate risks associated with the tight rental market and high price-to-FMR ratio, investors should consider diversifying their tenant base beyond just Section 8 voucher holders. This could include offering a mix of market-rate and subsidized units, or targeting other low-income groups who might be eligible for other forms of assistance. #### Bottom Line For Section 8-focused investors, the ZIP code 43110 presents a challenging environment due to the high price-to-FMR ratio and the tight rental market. The recommendation is to **Skip** this ZIP code unless you can acquire properties well below the FMR levels or have a diversified tenant strategy. The current dynamics suggest that the market is not favorable for generating consistent positive cash flow based solely on Section 8 vouchers.

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.