Section 8 Fair Market Rent (FMR) for ZIP 43529 - 2027
Location: Toledo, OH | Metro: Toledo, OH MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $860 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$84,167
To determine if a landlord should invest in ZIP code 43529 for Section 8 properties, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1080 cover the debt service on a property?
- Yes: If the FMR of $1080 is sufficient to clear the debt service, then the investment is financially viable from a rental income perspective.
- No: If the FMR of $1080 does not cover the debt service, investing in this area for Section 8 would not be advisable due to financial losses.
- 2) How does the market rent of $775 compare to the FMR?
- Above FMR: If the market rent exceeds the FMR, landlords might consider holding off on Section 8 investments and instead focus on market-rate rentals for higher returns.
- At or Below FMR: If the market rent is at or below the FMR, Section 8 could be a stable option for rental income, especially if there is a high demand for affordable housing.
- 3) Is there enough demand with 9.1% of residents being renters and N/A days as the Days on Market (DOM)?
- It depends: With 9.1% of residents renting, the demand for rental properties is relatively low. However, the exact number of days on market is needed to make a definitive assessment. A lower DOM indicates strong demand and quicker property turnover, which can be beneficial for Section 8 investments. Conversely, a higher DOM suggests weaker demand and longer periods where the property may not generate income.
In conclusion, a landlord considering ZIP 43529 for Section 8 investments must first ensure that the FMR of $1080 covers their debt service. Next, they should evaluate whether the market rent of $775 is advantageous for non-Section 8 rentals. Lastly, the decision hinges on the actual Days on Market figure to gauge the rental demand accurately. Without a specific DOM, the final recommendation remains contingent upon this missing piece of data.
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.