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 | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $990 | $84,094 | 1.18% | B |
| 2BR | $1,300 | $153,146 | 0.85% | C |
| 3BR | $1,660 | $185,293 | 0.9% | C |
| 4BR | $1,770 | $253,942 | 0.7% | D |
| 5BR | $2,053 | $550,211 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 43615 is situated in Toledo, Ohio, and represents a neighborhood with a total population of 40,146 residents. Among these residents, 46.0% are renters, indicating a significant demand for rental properties. The median household income in this area is $57,713, which suggests a middle-class community. The median home value stands at $178,327, reflecting a modest but stable housing market.
Moving into the realm of rent economics, the Fair Market Rent (FMR) for ZIP 43615 in fiscal year 2024 is set at $1040. This figure is notably lower than the market rent, which is measured at $1,326 per month according to ZORI (Zillow Observed Rent Index). This discrepancy between FMR and market rent implies a potential opportunity for landlords who can leverage the higher market rates while still attracting tenants through the Section 8 program.
Given these economic conditions, ZIP 43615 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the neighborhood's established rental market and reasonable FMR make it a reliable investment with steady cash flow. On the other hand, for those looking to actively manage their properties, the gap between FMR and market rent offers room for increasing property values and rents over time, thereby maximizing returns.
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.