Location: Sandusky County, OH | Metro: Sandusky County, OH
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 | $730 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $235,883 | 0.55% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 43407 stands at $68,835, indicating a moderate economic base for households. At the market rate of $848 per month (as reported by the Census ACS), renting an apartment in this area is feasible but requires careful budgeting. This cost represents a significant portion of a household’s monthly earnings, roughly 12.3% of their annual income. However, when compared to the Fair Market Rent (FMR) set at $1,010 for the metro area in fiscal year 2026, it becomes evident that the market rate is more affordable.
The affordability gap between the market rate and the FMR is substantial, amounting to $162 per month. This discrepancy suggests that landlords who rely solely on market rates may face stiff competition from those willing to accept Section 8 vouchers. Given that only 11.9% of the 484 residents are renters, competition for rental properties is likely to be intense, especially among those seeking more affordable housing options.
To put this into perspective, a household receiving a Section 8 voucher would have additional funds available each month, potentially making them more desirable tenants due to their ability to cover utilities and other living expenses without financial strain. Accepting vouchers could thus provide a steady stream of tenants, albeit at a slightly lower rent compared to the market rate.
For landlords considering their strategy, accepting Section 8 vouchers can be a viable option to ensure consistent occupancy and avoid vacancies. While the rent received might be lower than the market rate, the stability provided by government-backed payments and the reduced risk of non-payment can outweigh the financial difference. Moreover, given the limited number of renters in ZIP 43407, landlords who do not accept vouchers may find themselves with fewer potential tenants, leading to prolonged vacancy periods and lost income.
In conclusion, while the market rate of $848 is within reach for many households in ZIP 43407, the FMR of $1,010 highlights a significant affordability gap. Landlords should consider the benefits of accepting Section 8 vouchers to remain competitive and secure stable income streams.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.