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 | $1,270 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,620 | $236,998 | 0.68% | D |
| 3BR | $1,930 | $318,573 | 0.61% | D |
| 4BR | $2,200 | $401,195 | 0.55% | F |
| 5BR | $2,552 | $510,769 | 0.5% | F |
U.S. Census Bureau data (2024)
Grove City (ZIP 43123) offers investors a suburban landscape characterized by strong growth and distinct community assets. The area features the sprawling Fryer Park and is anchored by major employers such as Mount Carmel Health Systems, which provides significant local economic stability. This neighborhood balances residential quiet with convenient commercial corridors, making it a desirable location for families seeking access to Columbus amenities while maintaining a separate community identity.
From a financial perspective, the numbers reveal a complex picture. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is $1,310 in FY2024, rising to $1,430 in the FY2026 schedule. However, current market rents (Zillow ZORI) sit significantly higher at $1,590, creating a substantial gap of $280 per month between voucher limits and market reality. The median home value is $330,355, while a specific 2-bedroom property typically sells for $234,499. With properties moving off the market in a median of 54 days, demand is evident, but the rent lag suggests cash flow may be tighter for voucher-specific strategies.
The tenant pool is bolstered by solid demographics, including a median household income of $91,008, yet only 26.1% of residents rent, indicating a predominantly owner-occupied market. This lower renter share, combined with high-quality local schools like those in the South-Western City School District, means Section 8 demand is often driven by specific family needs rather than sheer volume. The neighborhood’s character and amenities support stable, long-term tenancies, even if the pool of renters is smaller than in Columbus proper.
The Section 8 verdict for Grove City 43123 leans toward appreciation and stability over immediate cash flow. The $280 gap between the 2BR market rent and the FY2026 FMR limits income potential for voucher holders, meaning investors should not rely solely on HUD payments to maximize yield. However, the high median income and strong institutional employers suggest a low-risk environment where property values are likely to hold steady. Investors should target the $234,499 median 2BR price point for entry, treating the voucher program as a vacancy buffer rather than the primary profit engine.
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.