Section 8 Fair Market Rent (FMR) for ZIP 43125 - 2027
Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,220 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$84,043
Housing Authorities Serving ZIP 43125
A skeptical investor might raise several concerns about investing in ZIP 43125, Groveport, OH. Let's address these objections with the available data.
- Will FMR $1300 (zip FY 2024) cover the mortgage on a $279,387 home? According to the mortgage calculator, a home priced at $279,387 with a typical down payment of 20% ($55,877) and a 30-year fixed-rate mortgage at 4.5% interest would result in a monthly mortgage payment of approximately $1,140. This figure is below the Fair Market Rent (FMR) of $1,300 set for the area in fiscal year 2024. Therefore, the FMR can indeed cover the mortgage, leaving room for maintenance, insurance, and other costs.
- Is there enough renter demand at 42.0%? At first glance, a 42.0% rental rate might seem low. However, the search reveals that there are currently 266 rental properties listed in the 43125 ZIP code. This indicates a reasonable level of demand for rental housing. Furthermore, the two-bedroom rent price in Groveport is $1,140, which is lower than the national average of $1,430, suggesting that Groveport is an affordable option for renters. While the exact percentage of renters is not provided, the number of listings and the rental price indicate a steady demand for rental units in the area.
- Will vouchers keep pace with $1,604 market rents? The data does not provide specific information regarding the pace of voucher increases relative to market rents. However, the FMR of $1,300 suggests that the government is setting a benchmark that is lower than the market rent of $1,604. If voucher amounts do not adjust to match market rents, landlords might find it challenging to cover their expenses solely through voucher payments. Landlords should consider diversifying their tenant mix to include both voucher recipients and market-rate tenants to mitigate this risk.
The analysis of ZIP 43125 shows that while there are potential challenges, the FMR can support mortgage payments, and the rental market appears to have sufficient demand. However, the relationship between voucher amounts and market rents remains uncertain and could pose a risk for landlords.
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.