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 | $1,190 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,510 | $274,276 | 0.55% | F |
| 3BR | $1,800 | $355,232 | 0.51% | F |
| 4BR | $2,050 | $388,023 | 0.53% | F |
| 5BR | $2,378 | $408,486 | 0.58% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 43202 in Columbus, OH, for fiscal year 2024 is set at $1280. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the amount the government will pay toward your tenant's rent. It is important to note that this is not the rent you should charge your tenants; it is the maximum reimbursement you can receive from the government.
To put this into perspective, the Zillow Observed Rent Index (ZORI) for the area is $1,473. This indicates that the average market rent is higher than the Section 8 payment standard. However, given that 69.7% of residents in this ZIP code are renters, there is significant demand for affordable housing, making Section 8 properties highly sought after.
The median home value in ZIP 43202 is approximately $310,816. For those looking to acquire a property for the first time as a Section 8 rental, this figure represents the typical cost you might expect to pay for a home in this area. While the initial investment may seem high, the steady stream of government payments can provide a reliable source of income.
Before committing to a Section 8 rental, ensure that your property meets all the required quality standards as defined by HUD. These standards include safety, health, and sanitation conditions that must be satisfied to qualify for the program. Failure to meet these requirements could result in penalties or disqualification from receiving vouchers.
In summary, while the FMR of $1280 is lower than the local average rent of $1,473, the strong renter market and the guaranteed government payments make Section 8 a viable option for landlords and small-portfolio investors. The acquisition cost of around $310,816 reflects the typical price point for homes in the area, and the high renter share suggests robust demand for your property. Just remember to verify compliance with HUD standards to avoid any issues.
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.