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 | $800 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $116,466 | 0.96% | C |
| 3BR | $1,430 | $168,340 | 0.85% | C |
| 4BR | $1,520 | $206,720 | 0.74% | D |
| 5BR | $1,763 | $232,648 | 0.76% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 43613 (Toledo, OH, Toledo, OH MSA metro) is unfavorable for Section 8 tenants. The Fair Market Rent (FMR) set at $990 for fiscal year 2024 falls below the market rent, as indicated by the Zillow Observed Rent Index (ZORI), which stands at $1,035. Landlords accepting Section 8 will be operating at a loss compared to the local rental market.
Acquisition in this area is relatively affordable. With a median home value of $156,540, the cost of entry into the property market is manageable. Additionally, the average Days on Market (DOM) of 12 days and a low 0.2% price-cut share suggest that homes are selling quickly without significant discounts, indicating a stable market for acquisitions.
Tenant demand in ZIP 43613 is substantial. The area has a population of 30,780, with 32.5% of residents being renters. This sizable renter base provides a consistent pool of potential tenants, ensuring steady occupancy rates for rental properties.
In conclusion, while the rent math does not favor landlords participating in the Section 8 program due to the discrepancy between the FMR and market rent, the affordability of acquiring properties and the strong tenant demand present opportunities for investment. Landlords should carefully consider the financial implications and possibly seek ways to increase efficiency or reduce costs to offset the lower rents. Despite the challenges, the quick sales and high renter population make ZIP 43613 a viable option for those willing to adapt their strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.