Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The rent math in ZIP 43321, part of the Columbus, OH HUD Metro FMR Area, does not favor landlords. The Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1050. However, the current market rent, according to Census ACS data, is only $850. This discrepancy means that landlords cannot charge the FMR without potentially pricing themselves out of the market.
Acquisition in this area is moderately affordable. The median home value stands at $181,077. While the days on market (DOM) and the percentage of homes needing price cuts are not available, the median home value suggests that purchasing properties here would be within reach for many investors looking to enter the Columbus real estate market.
Tenant demand in ZIP 43321 is limited. With a total population of 378, only 19.4% are renters. This low renter share indicates that there may not be a robust pool of potential tenants, which could lead to challenges in filling vacancies and maintaining steady occupancy rates.
Verdict: ZIP 43321 presents a challenging environment for landlords and small-portfolio investors. The disparity between the FMR and market rent suggests that setting rents at the FMR level could result in unoccupied units. Although property acquisition is feasible given the median home value, the low renter share implies a smaller tenant pool, making it harder to attract and retain tenants. These factors collectively indicate that while investment is possible, it may require careful management and strategic planning to succeed in this particular market segment.
Data Sources: FMR data from HUD (2027). 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.