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 | $1,080 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $231,028 | 0.6% | F |
| 3BR | $1,640 | $256,921 | 0.64% | D |
| 4BR | $1,870 | $351,457 | 0.53% | F |
| 5BR | $2,169 | $413,185 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 43205 is located in the heart of Columbus, Ohio, representing a densely populated urban neighborhood. With a total population of 12,618, it stands out as a predominantly rental market, where 62.7% of residents are renters. The median household income in this area is $60,181, which places it within a comfortable middle-income bracket. However, the median home value is notably lower at $271,124, indicating that while property values are accessible, they do not reflect the higher end of the market.
Moving into the economic landscape of rental properties, the Fair Market Rent (FMR) for ZIP 43205 in fiscal year 2024 is set at $1,050. This figure contrasts sharply with the market rent, as measured by Zillow's Observed Rental Index (ZORI), which is $1,519. This discrepancy suggests a significant opportunity for landlords and investors who can leverage the difference between government-set rents and market rates.
Given these factors, ZIP 43205 could be an attractive location for both hands-off voucher operators and hands-on value-add buyers. For those looking to operate hands-off, the presence of a high percentage of renters and the availability of Section 8 vouchers at $1,050 can provide a steady stream of income with minimal tenant turnover concerns. On the other hand, for investors interested in a hands-on approach, there is potential to increase property values and rents above the median, capitalizing on the neighborhood's growing demand and relatively low entry point. The key lies in understanding the local market dynamics and the ability to manage properties effectively, ensuring compliance with HUD regulations while also optimizing for market conditions.
In summary, ZIP 43205 offers a blend of stable rental income through Section 8 participation and opportunities for growth through value-add strategies. Investors should consider the balance between these two approaches based on their risk tolerance and management capabilities.
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.