Location: Wyandot County, OH | Metro: Wyandot County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 43359 presents a dynamic rental market influenced by both federal guidelines and local economic conditions. The Fair Market Rent (FMR) set at $970 for fiscal year 2026 reflects the federal government's benchmark for what is considered affordable for low-income families participating in the Section 8 program. This figure is notably higher than the current market rent of $725 as reported by the Census Bureau's American Community Survey (ACS).
This discrepancy suggests that the rental market in ZIP 43359 is currently experiencing a situation where demand might be slightly lower than supply. Landlords could find themselves adjusting their rental prices downward to align with the market realities, even though the FMR indicates a higher potential rental rate.
The median home value in the area stands at $164,087, which provides insight into the overall housing affordability and the potential for homeownership versus renting. A median home value that is relatively low can indicate a broader trend towards renting, especially if purchasing power is limited among residents.
The 13.9% renter share is a critical metric for understanding the long-term housing pressure. In ZIP 43359, a smaller proportion of the population are renters compared to homeowners. This suggests that while there is a segment of the population facing housing pressure, it is not overwhelming. However, the presence of any renters, particularly those relying on assistance programs like Section 8, implies an ongoing need for affordable housing options.
While the data does not provide a direct measure of days on market (DOM) or the percentage of properties requiring price cuts, the lower market rent compared to the FMR suggests some flexibility in pricing. This could mean that landlords are willing to negotiate or offer incentives to attract tenants, indicating a slight surplus of available rental units relative to demand.
In summary, ZIP 43359 operates under a balance between federal rental standards and local market conditions. The rental market appears to be moderately responsive to supply and demand dynamics, with a significant portion of the population still able to afford homeownership. However, the existence of a renter population, albeit a smaller one, underscores the continuous challenge of providing affordable housing solutions within the community.
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.