Location: Toledo, OH | Metro: Toledo, OH MSA
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 | $960 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $151,560 | 0.88% | C |
| 3BR | $1,710 | $205,390 | 0.83% | C |
| 4BR | $1,820 | $241,776 | 0.75% | D |
U.S. Census Bureau data (2024)
ZIP code 43466, located in Wayne, OH, is situated within the Toledo, OH Metropolitan Statistical Area (MSA). When comparing its key metrics to those of typical ZIP codes in the Toledo MSA, several insights emerge that can help landlords and small-portfolio investors understand its position within the broader market.
The Fair Market Rent (FMR) for ZIP 43466 in fiscal year 2024 is set at $1140. This figure is higher than the market rent of $1,025, indicating that the government's assessment of rental value is slightly above what the market currently dictates. However, it's important to note that the FMR is designed to reflect a reasonable estimate of rental costs, which may not always align with actual market conditions.
The median home value in ZIP 43466 stands at $162,791. This is notably lower than the average home value across the Toledo MSA, suggesting that Wayne, OH offers a more affordable housing option compared to other areas within the metro. Lower home values can be indicative of a value pocket, where properties are less expensive but still offer potential for steady rental income.
The renter share in ZIP 43466 is 17.6%, which is relatively low compared to many urban areas within the Toledo MSA. However, this percentage is significant enough to support a sizeable rental market. The combination of a below-average home value and a modest renter share suggests that Wayne, OH could be a favorable location for Section 8 tenants, who might find the cost of living more manageable here.
Given these figures, ZIP 43466 appears to be a value pocket within the Toledo MSA. Its lower home values and slightly elevated FMR compared to market rent make it an area where landlords can potentially benefit from a more stable tenant base through Section 8 subsidies. Additionally, the divergence between the FMR and market rent, coupled with the below-average home value, points towards a market where government assistance plays a notable role in supporting the rental economy.
To further contextualize the investment potential, landlords should consider the overall demand for rental properties in Wayne, OH and how the local economy influences property values and rental rates. The data indicates that Wayne offers a niche market for affordable housing, which can be particularly attractive for investors looking to serve a segment of the population that relies on rental assistance programs.
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.