Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
ZIP code 43151, located within the Columbus, OH HUD Metro FMR Area, presents a mix of characteristics that position it as a mid-tier neighborhood within its broader metropolitan context. The Fair Market Rent (FMR) for ZIP 43151 is set at $1,090 for fiscal year 2024, closely matching the area's market rent of $1,102. This indicates that the rental prices in 43151 are in line with what is typically expected in the Columbus, OH HUD Metro FMR Area.
The median home value in 43151 stands at $182,223, which is a reflection of its mid-tier status. This figure suggests that while homes in this ZIP code are affordable, they are not necessarily considered low-cost compared to the entire Columbus, OH HUD Metro FMR Area.
A notable feature of ZIP 43151 is its relatively high renter share of 37.9%. This percentage is higher than the average for many ZIP codes in the Columbus area, pointing towards a significant population of renters. High renter shares can be indicative of areas attractive to Section 8 tenants due to the availability of rental properties and potentially lower costs relative to homeownership.
To determine if ZIP 43151 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must consider the interplay between its FMR, market rent, home value, and renter share. Given the FMR and market rent are nearly identical and close to the metro average, and the home value is modest but not exceptionally low, 43151 aligns well with a mid-tier classification. However, the high renter share does suggest a potential sweet spot for landlords participating in the Section 8 program, as it implies a robust demand for rental housing.
In summary, ZIP 43151 offers a balanced proposition for landlords and small-portfolio investors, with rental prices that match the market and a strong presence of renters. While it is not identified as a premium sub-market due to its modest home values, it also does not fall into the category of a value pocket because its rents and home values are consistent with those found in other Columbus ZIP codes. Its key differentiator is the high proportion of renters, making it an appealing target for Section 8 participation.
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.