Location: Sandusky County, OH | Metro: Ottawa County, OH HUD Metro FMR Area
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 | $820 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $166,588 | 0.68% | D |
| 3BR | $1,370 | $223,978 | 0.61% | D |
| 4BR | $1,790 | $258,195 | 0.69% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 43430, located in Genoa, Ohio, within Ottawa County, operate based on the Specific Area Fair Market Rent (SAFMR) for a two-bedroom apartment, which is set at $910 per month for fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, meaning it reflects the local rental market conditions accurately.
Local market rents for a two-bedroom apartment in ZIP 43430 are slightly higher, averaging $929 according to the latest Census American Community Survey (ACS) data. This indicates that landlords participating in the Section 8 program can expect their rent to be just below the average market rate for the area.
When a landlord enters into a Section 8 contract, they receive payments from the government to cover the difference between the tenant's contribution and the total rent. The tenant is required to pay 30% of their adjusted income towards rent. If we assume an average adjusted income of $1,500 for a household in this ZIP code, the tenant would contribute approximately $450 toward the monthly rent.
In addition to the tenant’s payment, landlords also receive utility allowances. For a two-bedroom apartment, the utility allowance is typically around $300 per month. Therefore, the total amount paid to the landlord by the Section 8 program would be the sum of the tenant’s contribution and the utility allowance, which equals $750.
Given the SAFMR of $910, the landlord would need to accept a reimbursement gap of $160 per month. This means that the landlord receives $750 from the Section 8 program but must accept a lower total rent than the SAFMR. The gap represents the difference between the SAFMR and the combined tenant and utility allowance payments.
To summarize, landlords in ZIP 43430 who participate in the Section 8 program will receive a total of $750 per month for a two-bedroom apartment, consisting of $450 from the tenant and $300 from the utility allowance. This leaves a reimbursement gap of $160 compared to the SAFMR of $910, making the actual economic benefit slightly less than the market rent but still providing a stable source of income.
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.