Location: Ottawa County, OH | Metro: Ottawa County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
The Fair Market Rent (FMR) for ZIP code 43439 in fiscal year 2024 is set at $910. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) for the Section 8 Housing Choice Voucher program. It's important to note that this does not directly equate to your rental income; it's the maximum amount HUD will pay toward a tenant's rent. The actual rent you can charge is determined by your property's location and condition, but it must be reasonable compared to market rates.
In ZIP 43439, the local median rent is currently listed as N/A, which means we don't have specific data to compare against the FMR. However, the lack of data on local rents doesn't necessarily indicate low demand. In fact, the percentage of renters in the area is N/A%, suggesting a significant portion of the population relies on rental housing, including those who might benefit from Section 8 vouchers. This high renter share points to potential steady demand for affordable housing options.
When acquiring a property for a Section 8 rental, you should expect the costs to be around N/A. This includes the purchase price, any necessary renovations, and ongoing maintenance costs. While the exact figures are not available, understanding these costs is crucial to ensure that the property will be financially viable under the Section 8 program.
Before proceeding with a Section 8 rental, verify that your property meets all local and federal housing quality standards known as the Housing Quality Standards (HQS). This involves a thorough inspection to ensure the unit is safe, decent, and sanitary. Meeting these requirements is non-negotiable and essential for approval in the program.
Data Sources: FMR data from HUD (2027).
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.