Location: Toledo, OH | Metro: Toledo, OH MSA
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 | $870 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,540 | $229,660 | 0.67% | D |
| 4BR | $1,650 | $286,059 | 0.58% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 43413 stands at $80,069, which provides a solid financial foundation for many households. However, when it comes to housing costs, the reality becomes more complex. The market rate for rent, according to Census ACS data, is $946 per month. This figure represents a significant portion of the average household's income, indicating that while feasible, it leaves little room for other expenses.
Comparatively, the Fair Market Rent (FMR) set by the government for ZIP 43413 in fiscal year 2024 is $1110. This higher amount reflects the true cost of living in the area and is often what landlords aim for when setting their rents. For landlords considering whether to accept Section 8 vouchers or prefer cash-paying tenants, understanding these numbers is crucial.
With only 18.4% of the population being renters and a total population of 1,160, the competition for rental properties is relatively low. This means that landlords have a smaller pool of potential tenants but also less competition among themselves. The affordability gap between the median income and both the market rate ($946) and the FMR ($1110) suggests that some renters might struggle to find suitable housing without assistance programs like Section 8.
The takeaway for landlords is that accepting Section 8 vouchers could be a viable strategy to fill vacancies, especially given the limited number of renters in the area. While the voucher payment standard of $1110 might seem lower compared to market rates elsewhere, it aligns closely with the actual costs in ZIP 43413. Landlords who are willing to participate in such programs will likely attract tenants who need reliable housing options and can benefit from the stability provided by government subsidies. On the other hand, those focusing solely on cash-paying tenants should ensure they offer competitive rates and amenities to stand out in a market where affordability is a key concern.
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.