Location: Toledo, OH | Metro: Toledo, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
25.9% of residents in ZIP 43434 are renters, indicating a significant demand for rental properties in the area. The Fair Market Rent (FMR) for ZIP 43434, set at $890 for fiscal year 2024, provides a benchmark for rental pricing that aligns with the $638 average market rent reported by the Census Bureau's American Community Survey (ACS). This suggests that landlords can price their properties close to the FMR without significantly exceeding the local market rate.
$72,083 is the median income for ZIP 43434, which is an important figure for landlords to consider when setting rental prices and evaluating potential tenants' ability to pay. Although the median home value is listed as N/A, the combination of the median income and the relatively low market rent indicates that there is a substantial population of renters who may be eligible for Section 8 housing assistance.
The lack of specific data on days on market (DOM) and the percentage of price-cut share suggests that the rental market in ZIP 43434 is stable and not experiencing significant fluctuations. This stability is beneficial for small-portfolio investors looking to minimize risk and ensure consistent cash flow.
In ZIP 43434, the $890 FMR is a key factor for landlords participating in the Section 8 program, as it sets the limit for how much they can charge for rent. Given that the market rent is already below this figure at $638, landlords may find it easier to attract tenants willing to pay the higher Section 8 rates without facing resistance due to inflated prices.
A final consideration for landlords is the potential for increased tenant turnover, a common issue in subsidized housing programs. However, the 25.9% renter share implies a steady pool of applicants, which can mitigate this risk.
Based on the available data, the verdict for Section 8 participation in ZIP 43434 is positive, especially for those with properties priced near or slightly above the current market rent but still within the FMR guidelines.
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.