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 | $750 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $42,336 | 2.46% | A+ |
| 3BR | $1,330 | $53,059 | 2.51% | A+ |
| 4BR | $1,410 | $61,077 | 2.31% | A+ |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 43608, located in Toledo, OH, within Lucas County and the Toledo, OH MSA metro area, presents a nuanced investment opportunity for landlords and small-portfolio investors. According to the latest HUD Fair Market Rent (FMR) data for fiscal year 2024, the FMR for ZIP 43608 is set at $920. This figure represents the maximum amount that voucher holders can pay towards their monthly rent.
In contrast, the market rent as indicated by the Zillow Observed Rent Index (ZORI) stands at $1,008. This means that landlords accepting Section 8 vouchers will experience marginal cash flow, with a difference of $88 per unit between the HUD FMR and the market rent. This gap indicates that while there is some positive cash flow, it is minimal and may not cover all expenses associated with property management and maintenance.
To further analyze the investment potential, consider the median home value in the area, which is $48,149. The rent-to-price ratio can be calculated by dividing the annual market rent ($12,096) by the median home value. This results in a ratio of approximately 0.25, suggesting that rental income is relatively low compared to the cost of owning a home in this ZIP code. However, this also implies that the area may offer stability, as the lower home values could make homeownership less attractive, thus maintaining a steady demand for rental properties.
The dynamics of the local real estate market, including the number of days on market (DOM) and the percentage of homes that have been listed with price cuts, do not significantly impact the decision-making process for Section 8 investors. With a median DOM marked as N/A and a mere 0.2% of homes being listed with price cuts, the focus should remain on the rental market rather than the broader real estate trends.
The strongest angle for investors in ZIP 43608 is likely stability. Given the low median home values and the marginal cash flow from Section 8 vouchers, the consistent demand for affordable rental housing provides a reliable source of income with limited risk of significant market fluctuations.
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.