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 | $830 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $58,620 | 1.98% | A+ |
| 3BR | $1,480 | $69,793 | 2.12% | A+ |
| 4BR | $1,580 | $74,089 | 2.13% | A+ |
| 5BR | $1,833 | $79,404 | 2.31% | A+ |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 43605 in Toledo, OH, for fiscal year 2024 is set at $890. This figure represents the maximum amount that a landlord can charge a tenant participating in the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you'll receive; it's the payment standard used to determine the subsidy amount.
In comparison, the local market rent for a two-bedroom apartment in ZIP 43605, known as the ZORI (Zillow Observed Rental Index), is currently at $1,045. This indicates that the FMR is lower than the typical market rent, meaning that if you participate in Section 8, your income will be capped at $890 per month for a two-bedroom unit, regardless of the market rate.
The demand for rentals in ZIP 43605 is strong, with 51.9% of the population being renters. This high percentage suggests a robust market for rental properties, particularly those that cater to low-income families who rely on government assistance like Section 8.
When considering the acquisition cost of a property in this area, the median household income of $63,674 is a critical factor. This income level helps determine the affordability of housing for potential tenants and influences the number of applicants eligible for Section 8 vouchers.
Before proceeding with a Section 8 rental, it's essential to verify that your property meets the required standards. The U.S. Department of Housing and Urban Development (HUD) conducts regular inspections to ensure that the units comply with health and safety guidelines. Failure to meet these standards could result in reduced payments or termination of the contract.
In summary, while the FMR of $890 might be lower than the local market rent of $1,045, the significant 51.9% renter share points to a high demand for affordable housing. Understanding the local income levels and ensuring your property passes HUD inspections are key steps in making a sound investment decision.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.