Section 8 Fair Market Rent (FMR) for ZIP 43135 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 43135

• Pickaway Metropolitan Housing Authority (Circleville, OH) - 661 Section 8 vouchers
• Chillicothe Metropolitan Housing Authority (Chillicothe, OH) - 567 Section 8 vouchers
• Hocking Metropolitan Housing Authority (Logan, OH) - 317 Section 8 vouchers
• Vinton Metropolitan Housing Authority (Mc Arthur, OH) - 196 Section 8 vouchers

The economics of Section 8 in ZIP code 43135, Laurelville, OH, in Hocking County, revolve around the Safety-Net Fair Market Rent (SAFMR) and the local market rent. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1050. This figure is specifically tailored for this ZIP code, ensuring it reflects the local rental market conditions accurately.

Local market rent, according to the Census American Community Survey (ACS), averages $679 for a two-bedroom unit. This discrepancy between the SAFMR and the actual market rent is significant for landlords who are considering participating in the Section 8 program.

A Section 8 voucher pays a portion of the rent directly to the landlord, based on the SAFMR and the tenant's ability to pay. Here’s a breakdown of how the reimbursement works:

• Tenant Portion: The tenant is responsible for paying 30% of their adjusted income towards rent. If the tenant's monthly adjusted income is $1500, they would contribute $450 (30% of $1500).
• Voucher Portion: The voucher covers the difference between the tenant's contribution and the SAFMR, up to $1050. In this case, the voucher would cover $600 ($1050 - $450).
• Utility Allowances: Utility allowances are also factored into the total payment but do not increase the overall rent reimbursement beyond the SAFMR. These allowances can vary but typically add an additional $200 to $300 per month for utilities, which the tenant can use to offset their utility costs.

Given these specifics, landlords in ZIP 43135 should understand that while the SAFMR sets a cap at $1050, the average local market rent is significantly lower at $679. Therefore, the typical reimbursement gap for a two-bedroom unit would be a surplus for landlords, meaning they receive more than the local market rent on average.

To illustrate, if a landlord charges the local market rent of $679, the voucher would cover the remaining amount up to the SAFMR of $1050, resulting in a surplus of $371 per month ($1050 - $679). However, if the landlord charges the full SAFMR of $1050, they will only receive $600 from the voucher plus the tenant's $450 contribution, totaling exactly $1050. In this scenario, there is no surplus or deficit compared to the SAFMR.

In conclusion, landlords in ZIP 43135 can expect a surplus when renting a two-bedroom unit at the local market rate due to the higher SAFMR. This surplus provides financial stability and ensures that landlords are not at a disadvantage when participating in the Section 8 program.

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.