Location: Toledo, OH | Metro: Toledo, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 43403 has a population of 4,452 residents. Due to the lack of specific data on the percentage of renters and median household income, it's challenging to definitively classify this area as either renter-heavy or homeowner-dominated. However, we can still provide some insights based on the available information.
Without the exact percentage of renters, it's impossible to gauge the depth of voucher demand directly. But typically, areas with higher percentages of renters tend to have greater voucher utilization. The absence of median household income data makes it difficult to assess the financial strain that housing costs might place on local residents.
To connect the dots between income levels and market rents, we would need the actual figures for both. In general, if the median household income is significantly lower than the typical market rent, it suggests that a substantial portion of the population relies heavily on rental assistance programs like Section 8. This reliance indicates a strong demand for subsidized housing.
The Fair Market Rent (FMR) for ZIP 43403 is set at $960 for FY 2024. This figure represents the maximum amount that a landlord can charge for a unit to be considered affordable under the Section 8 program. Landlords in this area should expect tenants who are likely to be relying on vouchers to cover their rent, especially if the typical market rent exceeds the FMR.
A landlord in ZIP 43403 should anticipate a tenant pool that includes individuals and families who benefit from federal housing assistance. These tenants will be looking for units that fall within the FMR guidelines, making it essential for landlords to price their properties accordingly to attract eligible voucher holders.
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.