Location: Columbus, OH | Metro: Columbus, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,220 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
U.S. Census Bureau data (2024)
The ZIP code 43350 has a population of 146 individuals, with 18.2% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, particularly those utilizing Section 8 vouchers, may be relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP code is $70,583. Given the market rent of $983, we can calculate that the average rent consumes approximately 17.5% of the median household income. This is calculated by dividing the monthly rent ($983) by the annual income ($70,583), then multiplying by 12 to get the percentage of income spent on rent annually.
Comparing the market rent of $983 to the Fair Market Rent (FMR) of $1080 for fiscal year 2024, it's evident that the market rent is slightly below the FMR. This means that landlords could potentially receive a subsidy rate closer to the FMR if they participate in the Section 8 program, which would help cover any discrepancies between the market rent and the actual rent received from tenants.
A landlord in ZIP 43350 should expect tenants who are likely to be relying on Section 8 vouchers due to the lower-than-average rental demand. These tenants will have their rent subsidized up to the FMR of $1080, ensuring that landlords receive a consistent and government-backed income stream. However, the overall number of such tenants may be limited given the low proportion of renters in the area.
To summarize, while there is some potential for Section 8 tenants in ZIP 43350, the primary characteristic of the area is a high concentration of homeowners. The relatively low percentage of renters suggests that the voucher demand will not be as deep as in more renter-heavy ZIP codes. Landlords should prepare for a niche market of tenants who require financial assistance but also benefit from the stability provided by the Section 8 program.
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.