Location: Ottawa 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 | $800 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $280,905 | 0.48% | F |
| 4BR | $1,780 | $311,507 | 0.57% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 43432 operate under specific guidelines that can significantly impact a landlord's revenue. For a two-bedroom apartment in this ZIP code, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $930. This SAFMR figure is crucial because it represents the maximum amount that the housing authority will pay on behalf of a tenant. However, the local market rent for 2BR units in ZIP 4332 is currently unavailable, which makes direct comparisons challenging.
A voucher payment under Section 8 is structured to cover a portion of the rent, with the tenant responsible for paying the remainder. Typically, the tenant's contribution is calculated as 30% of their adjusted income. If the tenant's share is below the utility allowance, then the utility allowance is applied instead. For instance, if a tenant's income is such that they owe $279 towards the rent, the housing authority would cover the difference up to the SAFMR of $930. Thus, the landlord would receive $651 from the housing authority plus the tenant's $279, totaling $930.
Utility allowances vary but generally provide an additional amount per month to help cover electricity, gas, water, and sewer costs. These allowances are designed to ensure that tenants have enough funds left over after rent to pay for basic utilities. In ZIP 43432, the exact utility allowance isn't specified, so we'll use an average utility allowance of $150 for this example. If the tenant's share is less than the utility allowance, the tenant pays their share toward rent and the housing authority covers the rest, including the utility allowance. Therefore, in our scenario, the tenant would pay $279 towards rent and the remaining $651 plus an additional $150 for utilities would be paid by the housing authority.
The SAFMR of $930 applies specifically to this ZIP code, meaning that all landlords within ZIP 43432 must adhere to this rate when accepting Section 8 vouchers. Given the SAFMR and assuming a standard market rent that aligns closely with the SAFMR, there would typically be no surplus or gap for a landlord. However, if the market rent for a 2BR unit were higher than $930, the landlord would face a shortfall. Conversely, if the market rent were lower, the landlord would see a surplus. Since the local market rent is not available, it's impossible to determine the exact gap or surplus in ZIP 43432.
To conclude, landlords in ZIP 43432 should expect a reimbursement of $930 per month for a two-bedroom apartment, which includes the tenant's share and any applicable utility allowance. Without specific market rent data, the reimbursement gap or surplus cannot be definitively stated.
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.