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 | $1,310 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,400 | $295,188 | 0.47% | F |
| 2BR | $1,670 | $297,722 | 0.56% | F |
| 3BR | $1,990 | $259,641 | 0.77% | D |
| 4BR | $2,260 | $308,500 | 0.73% | D |
U.S. Census Bureau data (2024)
The ZIP code 43206 is situated in a diverse part of Columbus, Ohio, characterized by a significant portion of its population renting their homes. With a total population of 21,996, 51.3% are renters, indicating a robust demand for rental properties. The median household income in this area stands at $75,806, which is above the national average, suggesting a stable economic base. Median home values are recorded at $268,556, reflecting a moderate housing market that is neither too expensive nor too cheap.
Moving into the specifics of rent economics, the Fair Market Rent (FMR) for ZIP 43206 in fiscal year 2024 is set at $1,250, which is notably lower than the market rent of $1,671, as indicated by the Zillow Observed Rent Index (ZORI). This gap presents an opportunity for investors who can navigate the complexities of the Section 8 program while still commanding higher rents in the open market.
For hands-off voucher operators, ZIP 43206 offers a solid investment opportunity due to the high percentage of renters and the steady income levels. However, the discrepancy between FMR and market rent suggests that a hands-on approach could be more rewarding. A value-add buyer could potentially improve property conditions and charge closer to the market rate, thus maximizing returns beyond the limits of the voucher program.
In conclusion, ZIP 43206 in Columbus, OH, is a mixed-income neighborhood with a strong rental market. Investors should consider both the stability offered by the Section 8 program and the potential for higher returns through market-rate rentals, depending on their level of involvement and risk tolerance.
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.