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 | $1,000 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $300,697 | 0.42% | F |
| 3BR | $1,510 | $369,536 | 0.41% | F |
| 4BR | $1,720 | $475,625 | 0.36% | F |
U.S. Census Bureau data (2024)
In ZIP code 43334, which encompasses Marengo, OH, and is part of Morrow County, the economics of Section 8 vouchers can be clearly understood by examining the SAFMR (Small Area Fair Market Rent) and the local market rent. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1110. This figure represents the maximum amount that the housing authority will pay towards rent for a unit in this specific ZIP code, ensuring it aligns with the local rental market conditions.
The local market rent, as reported by the Census ACS, is slightly lower at $1057. This indicates that the SAFMR is designed to cover a reasonable cost of renting in the area, but it also leaves room for potential discrepancies between the voucher payment and the actual market rates.
When a landlord agrees to accept a Section 8 voucher, the payment structure involves both the housing authority and the tenant contributing to the rent. The housing authority covers the difference between the tenant's contribution and the total rent, up to the SAFMR limit. The tenant's portion is generally 30% of their adjusted income, and they receive additional allowances for utilities, which can vary based on the size of the unit and local utility costs.
To walk through an example, if a tenant has an adjusted income of $2000 per month, their contribution towards the rent would be 30%, or $600. Assuming the utility allowance for a two-bedroom unit in ZIP 43334 is around $300, the total monthly payment from the housing authority would be $600 (tenant portion) + $300 (utility allowance) = $900.
This means that for a two-bedroom apartment rented out at the SAFMR rate of $1110, the landlord would receive $900 from the housing authority plus the tenant's $600 contribution, totaling $1500. However, since the SAFMR is the cap, the landlord would only receive up to $1110 from the housing authority, leaving a reimbursement gap of $1500 - $1110 = $390 per month.
If the landlord rents the property below the SAFMR, say at the local market rent of $1057, then the reimbursement gap would be smaller. In this scenario, the landlord would receive $900 from the housing authority and $600 from the tenant, totaling $1500, but capped at $1057, resulting in a reimbursement gap of $1500 - $1057 = $443.
It's important to note that these calculations are based on the assumption that the tenant's portion and utility allowances remain constant. If the tenant's income increases, so does their contribution, potentially reducing the reimbursement gap. Conversely, if the local market rent rises above the SAFMR, the landlord may face a larger reimbursement gap.
In summary, for a two-bedroom apartment in ZIP 43334, the typical reimbursement gap when renting at the SAFMR rate is $390, while renting at the local market rate of $1057 would leave a surplus of $443 per month for the landlord to make up, assuming the tenant's contribution and utility allowances stay at $900. Landlords must carefully consider these economic factors when deciding whether to participate in the Section 8 program.
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.