Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 43117 is not a renter-heavy area with deep voucher demand. With only 0.0% of the population renting, it's evident that homeownership dominates this area. This makes vouchers relatively scarce compared to areas with higher percentages of renters.
Given that the median household income is not available, it's challenging to provide a direct comparison to the market rent. However, we can still analyze the situation based on the Fair Market Rent (FMR) figure provided. The FMR for ZIP 43117 is set at $1050 for fiscal year 2024.
In an area where the median income is unknown but homeownership is prevalent, it's likely that those who do rent are either low-income families relying on vouchers or individuals who prefer renting over buying due to various reasons such as job instability or short-term residency.
A landlord in ZIP 43117 should expect tenants who are primarily using Section 8 vouchers to cover their rent. These tenants will have a strict budget and will be looking for housing that aligns with the voucher amount of $1050. It's important for landlords to understand that the rental income from these tenants will be capped at the FMR, which means they must manage costs and expectations accordingly.
While the exact percentage of local income eaten up by typical rent cannot be calculated without the median income figure, it's reasonable to infer that for those relying on vouchers, the rent consumes a significant portion of their income. For landlords, this implies a need for patience during the voucher process and understanding of the financial constraints faced by these tenants.
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.