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 | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $62,027 | 1.85% | A+ |
| 3BR | $1,470 | $78,443 | 1.87% | A+ |
| 4BR | $1,560 | $73,033 | 2.14% | A+ |
| 5BR | $1,810 | $72,618 | 2.49% | A+ |
U.S. Census Bureau data (2024)
In ZIP code 43609 of Toledo, OH, there are several risks to consider when investing in Section 8 properties. First, tenant turnover can be a significant issue due to the difference between the market rent of $1,026 and the Fair Market Rent (FMR) set at $990 for fiscal year 2024. This gap can lead to higher churn rates as tenants seek more affordable housing options.
Second, the area experiences relatively quick property listings, with an average Days on Market (DOM) of just 15 days. While this may suggest a robust rental market, it also exposes landlords to potential vacancy risks if they cannot quickly secure new tenants who qualify for Section 8 vouchers. The challenge is compounded by the fact that the typical home value in the area is $69,826, which is significantly lower than the national average, indicating a neighborhood with limited financial resources. The median income of $42,313 further highlights the economic constraints faced by residents, potentially leading to higher instances of deferred maintenance and increased repair costs for landlords.
Despite these challenges, the high renter share of 55.7% suggests a strong demand for rental properties, including those utilizing Section 8 vouchers. High renter density often translates into a larger pool of voucher holders seeking housing, which can help stabilize occupancy rates and provide a steady stream of tenants for landlords willing to participate in the program.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.