Location: Columbus, 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 | $1,530 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,320 | $401,131 | 0.58% | F |
| 4BR | $2,640 | $442,091 | 0.6% | F |
U.S. Census Bureau data (2024)
ZIP code 43116, located within the Columbus, OH HUD Metro FMR Area, has an FMR of $1470 for fiscal year 2024. This figure represents the Fair Market Rent set by HUD for the area and is lower than the market rent of $1,750. The discrepancy between the FMR and the market rent suggests that landlords can potentially receive higher rents than what is subsidized under the Section 8 program, indicating a slight premium for private tenants.
The median home value in ZIP 43116 is $424,914, which is a key metric for understanding the overall cost of housing in the area. However, only 3.6% of the population are renters, which is significantly lower than the typical renter share in the Columbus, OH HUD Metro FMR Area. This low renter share implies that homeownership is more prevalent, possibly due to higher income levels or a preference for owning property over renting.
To determine whether ZIP 43116 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Columbus, OH HUD Metro FMR Area, we must consider the interplay between the FMR, market rent, and the renter share. Given the FMR is $1470 and the market rent is $1,750, landlords might find it challenging to attract Section 8 tenants due to the subsidy not covering the full market rate. However, the relatively low renter share does not necessarily indicate a value pocket; instead, it could suggest a more affluent area where homeownership is favored.
In conclusion, ZIP 43116 appears to be a mid-tier neighborhood within the Columbus, OH HUD Metro FMR Area. While the FMR is below the market rent, suggesting some premium for private rentals, the low renter share indicates a strong preference for homeownership. Landlords should be aware that attracting Section 8 tenants might be more difficult due to the subsidy not fully covering the market rate, but the overall cost of housing is still moderate compared to other areas within the metro, making it neither a value pocket nor a premium sub-market.
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.