Location: Logan County, OH | Metro: Logan County, OH
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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $187,323 | 0.57% | F |
| 3BR | $1,260 | $258,376 | 0.49% | F |
| 4BR | $1,390 | $326,540 | 0.43% | F |
| 5BR | $1,612 | $390,118 | 0.41% | F |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,010 for ZIP 43311 in fiscal year 2026 will sufficiently cover the mortgage on a property valued at $243,301. According to recent real estate data, the median home value in ZIP 43311 is around $243,301. The average monthly mortgage payment on a home of this value, assuming a 30-year fixed-rate mortgage at an interest rate of 5%, would be approximately $1,270. This indicates that the FMR of $1,010 falls short of covering the mortgage payment.
The investor could also doubt if there is sufficient renter demand in ZIP 43311, given that only 32.6% of the population are renters. While this percentage is relatively low, it does not necessarily mean that the demand is insufficient. Bellefontaine offers a variety of dining options and amenities, which can attract a steady stream of renters. However, the data does not provide a detailed breakdown of the number of renters or the vacancy rates, which would give a clearer picture of the demand.
Another concern is whether the federal housing vouchers will keep pace with market rents of $850. The FMR of $1,010 suggests that the market rents are generally higher. Voucher holders typically receive assistance that covers about 70% of the FMR, which in this case would be approximately $707. This is slightly below the market rent of $850, indicating that landlords might need to consider the additional costs tenants would incur to make up the difference. However, the exact pace of voucher adjustments is not specified in the available data.
In summary, while the FMR of $1,010 in ZIP 43311 does not fully cover the mortgage on a home priced at $243,301, the presence of amenities and services can support renter demand. Additionally, landlords should be aware that voucher amounts may not fully align with market rents, necessitating careful consideration of tenant selection to ensure financial stability.
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.