Section 8 Fair Market Rent (FMR) for ZIP 43302 - 2027

Investment Score for ZIP 43302

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,010
1 Bedroom	$1,020
2 Bedrooms	$1,290
3 Bedrooms	$1,550
4 Bedrooms	$1,710
5 Bedrooms	$1,984
6 Bedrooms	$2,222
7 Bedrooms	$2,400
8 Bedrooms	$2,520

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,020	$80,047	1.27%	A
2BR	$1,290	$123,974	1.04%	B
3BR	$1,550	$175,781	0.88%	C
4BR	$1,710	$254,470	0.67%	D
5BR	$1,984	$328,095	0.6%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 43302 (Marion, OH) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 43302 is set by HUD for 2026 as follows: - 0BR: $990 - 1BR: $1000 - 2BR: $1290 (which is 28.1% of the median household income) - 3BR: $1550 - 4BR: $1710 To understand how these FMRs compare to actual rents, we need to consider the price-to-FMR ratio, which is 7.8x for a 2BR unit. This suggests that the actual rent prices are significantly higher than the FMRs. For instance, if the Zillow median for a 2BR property is $121,270, the monthly rent would be approximately $1,010 based on a typical mortgage payment. However, the FMR for a 2BR unit is only $1290, indicating that the actual rent prices are around $1,010 per month, which is much lower than the FMR. This discrepancy means that voucher holders face significant constraints in finding affordable housing within their budget. They might struggle to find units that do not exceed the FMR limits, especially since the occupancy rate is high at 90%, suggesting limited availability of rental properties. #### Affordability & Renter Profile In ZIP code 43302, 36.6% of the population are renters, indicating a substantial demand for rental housing. The median household income is $55,057, and the FMR for a 2BR unit is 28.1% of this income. This implies that a significant portion of the population can afford the FMR rates, but the actual rents being charged are much lower, making it a relatively tight market for both renters and voucher holders. Given the high occupancy rate, there is likely little excess supply, leading to competition among potential tenants. #### Investor Angle From an investor perspective, the ZIP code 43302 offers a mixed outlook. The FMRs are set to ensure affordability for low-income households, but the actual rents being charged are significantly below these levels. This could mean that investors who purchase properties at or near the Zillow median price ($121,270 for a 2BR) and aim to rent them out at FMR rates would likely see positive cash flow. However, the challenge lies in finding willing landlords who are willing to accept the FMR rates, given the lower actual rents in the area. The investment grade in this ZIP code is moderate. While there is a strong demand for rental housing, the actual rents being charged are lower than the FMRs, which could affect the profitability of investments. Additionally, the high occupancy rate indicates that there is little room for new rental units to enter the market without facing stiff competition from existing properties. #### Specific Actionable Insights 1. **Focus on Properties Below FMR**: Investors should focus on acquiring properties where the actual rent is below the FMR. For example, a 2BR unit with an actual rent of $1,010 per month could be rented out at the FMR of $1290, providing a significant margin for positive cash flow. This strategy would also help address the affordability issues faced by voucher holders. 2. **Consider Renovation Projects**: Given the high occupancy rate and the need for affordable housing, investors might consider purchasing older properties at a discount and renovating them to meet FMR standards. This could include updating kitchens and bathrooms, improving insulation, and modernizing appliances to make the units more attractive to tenants while still maintaining affordability. 3. **Engage with Local Housing Authorities**: To maximize the chances of success, investors should engage with local housing authorities to understand the specific requirements and preferences for Section 8 vouchers. This could involve attending meetings, networking with other landlords, and ensuring compliance with all regulations to attract voucher holders. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 43302 is **Buy**. The high demand for rental housing, combined with the lower actual rents compared to FMRs, presents an opportunity for positive cash flow. However, investors must be prepared to navigate the challenges posed by the tight market and the need to comply with local housing authority requirements. By focusing on properties below FMR and considering renovation projects, investors can position themselves to benefit from the strong rental market while supporting the needs of low-income households.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.