Location: Toledo, 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 | $920 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $172,219 | 0.74% | D |
| 3BR | $1,620 | $261,173 | 0.62% | D |
| 4BR | $1,810 | $308,535 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 43447, located in Millbury, OH, is primarily a homeowner-dominated area with a relatively small percentage of renters at 15.5%. The population stands at 3,348 individuals, which suggests that the overall number of potential Section 8 tenants is limited. Given the median household income of $89,643, the typical market rent of $1,090 represents approximately 12.2% of the average monthly income. This calculation is derived from dividing the annual median income by 12 months and then comparing it to the market rent figure.
The Fair Market Rent (FMR) for FY 2024 in this ZIP code is set at $1,060, which is slightly below the current market rent. However, the discrepancy is minimal, indicating that the rental market closely aligns with the government's assessment of fair rent. In terms of voucher availability, the scarcity of renters implies that there may not be a deep pool of Section 8 vouchers to draw from in this area.
A landlord in ZIP 43447 can expect a tenant profile that is likely to include individuals who are either low-income earners or those receiving assistance due to the limited number of renters. These tenants would typically have an income level that qualifies them for housing assistance programs such as Section 8. It is important for landlords to understand that while the voucher demand is present, it is not overwhelming compared to areas with higher percentages of renters. Therefore, landlords should prepare for a mix of tenants, some of whom will be able to pay market rent without assistance, and others who will rely on vouchers to cover their rent.
To summarize, the ZIP code 43447 is not heavily populated by renters, making it a less dense area for Section 8 voucher holders. The typical rent consumes about 12.2% of the median monthly income, aligning closely with the FMR. Landlords should anticipate a tenant base that includes both those capable of paying market rates and those requiring housing assistance.
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.