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 | $1,040 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $246,622 | 0.54% | F |
| 3BR | $1,580 | $349,918 | 0.45% | F |
| 4BR | $1,800 | $416,526 | 0.43% | F |
| 5BR | $2,088 | $504,925 | 0.41% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP 43146 (Orient, OH) reveals two distinct scenarios based on the Fair Market Rent (FMR) and market rent figures.
Using the annualized 2BR FMR of $1050 for FY 2024, the potential annual rental income is $12,600. Given the median home value of $354,434, the implied gross yield for a Section 8 property in this ZIP code is approximately 3.56%. This calculation is derived by dividing the annual rental income by the median home value.
In contrast, when using the market rent figure of $1,178, the potential annual rental income increases to $14,136. The implied gross yield for this scenario is slightly higher at about 3.99%, calculated similarly by dividing the annual rental income by the median home value.
The gross yield comparison between these two scenarios shows that the market rent scenario yields a higher return. However, it's important to note that the actual rental income from Section 8 properties is capped at the FMR, which means the $1050 scenario is more reflective of the true rental income potential under the Section 8 program.
Given the 10.9% renter density in ZIP 43146, the demand for rental housing, including Section 8 units, is relatively low compared to areas with higher renter populations. This suggests that landlords might face challenges in finding eligible tenants, which could impact occupancy rates and, consequently, the overall yield.
The N/A-day Days on Market (DOM) indicates that there isn't sufficient data to determine how quickly properties are typically rented out in this area. This uncertainty adds another layer of risk for investors considering Section 8 properties in Orient, OH.
In summary, while the market rent scenario provides a higher gross yield, the actual yield for Section 8 properties is more likely to be closer to the 3.56% derived from the FMR. Landlords and small-portfolio investors should consider the lower demand for rentals and the associated risks before committing to Section 8 properties in ZIP 43146.
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.