Location: Toledo, OH | Metro: Toledo, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The analysis of ZIP 43467 within the Toledo, OH MSA reveals several key insights for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 43467 in fiscal year 2024 is set at $990. However, without specific data on market rent, it's challenging to make a direct comparison. If the market rent is below or close to $990, then landlords can expect to maintain their occupancy rates without significant concessions. Conversely, if market rents exceed this figure, landlords might face difficulties in attracting tenants willing to pay the FMR.
Regarding the affordability of acquisitions, the lack of detailed data on the median home value, days on market (DOM), and the percentage of homes that have had their prices cut complicates a straightforward assessment. Typically, a lower median home value would indicate a more affordable market for property purchases, while higher DOM and a larger share of homes experiencing price cuts could suggest a buyer's market where negotiation room is greater. Landlords should conduct further research to understand these dynamics in ZIP 43467.
Tenant demand is evident with a population of 185 and a renter share of 15.6%. This suggests a smaller pool of potential tenants but also indicates that a considerable portion of the residents prefer renting over owning. The demand is likely stable, given the low population size, but landlords must ensure they cater to the needs of this segment effectively.
In conclusion, while the rent math aligns with the FMR at $990, the absence of precise market rent data leaves some uncertainty. Acquisition affordability cannot be definitively assessed due to missing specifics on median home values and pricing trends. Tenant demand is present, albeit in a limited capacity, with nearly one-sixth of the population preferring rental housing. Landlords and investors must proceed with caution, leveraging available data and conducting thorough local market research to make informed decisions.
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.