Location: Logan County, OH | Metro: Union County, 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 | $1,010 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,680 | $314,564 | 0.53% | F |
| 4BR | $1,850 | $329,358 | 0.56% | F |
U.S. Census Bureau data (2024)
A skeptical investor looking at ZIP 43319 might raise several concerns regarding the feasibility of investing in rental properties within this area. Here, we address those key questions with the available data.
The first objection is whether the Fair Market Rent (FMR) of $1250 for ZIP 43319 in fiscal year 2024 will sufficiently cover the mortgage on a home priced at $292,723. To assess this, we must consider the typical mortgage rates and terms. Assuming a standard 30-year fixed-rate mortgage at an interest rate of 5%, the monthly mortgage payment on a $292,723 property would be approximately $1560. This figure exceeds the FMR, indicating that relying solely on the FMR to cover mortgage payments could result in financial strain for investors. However, it's important to note that the FMR represents the maximum amount set by HUD for a two-bedroom apartment, and actual rents could potentially be higher depending on market conditions and property quality.
The second concern is the level of renter demand, which stands at 7.3%. This percentage suggests that a significant portion of potential renters are not currently leasing properties, possibly due to affordability issues or other factors. While 7.3% indicates a relatively low demand, it also implies room for growth if rents can be adjusted to meet the needs of more tenants. However, the data does not provide a detailed breakdown of why demand is low or how it compares to historical trends, making it difficult to predict future changes in demand accurately.
The third objection pertains to the adequacy of housing vouchers in keeping pace with market rents. Unfortunately, the data provided does not include specific figures for voucher amounts or their relationship to market rents in ZIP 43319. Without this information, it's challenging to determine if vouchers will cover the cost of renting a property at market rates. Landlords should be cautious and monitor local housing authority policies and any changes in voucher allocations to ensure they remain financially viable.
In summary, while the FMR in ZIP 43319 may not fully cover mortgage costs based on current interest rates, there is potential for higher rents through property improvements or strategic pricing. The renter demand at 7.3% signals a need for careful tenant selection and possibly adjusting rents to attract more tenants. Lastly, the lack of data on voucher amounts means landlords must stay informed about local housing assistance programs to manage their investments effectively.
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.