Section 8 Fair Market Rent (FMR) for ZIP 43701 - 2027

Investment Score for ZIP 43701

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$890
1 Bedroom	$900
2 Bedrooms	$1,040
3 Bedrooms	$1,400
4 Bedrooms	$1,550
5 Bedrooms	$1,798
6 Bedrooms	$2,014
7 Bedrooms	$2,175
8 Bedrooms	$2,284

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$900	$105,309	0.85%	C
2BR	$1,040	$151,275	0.69%	D
3BR	$1,400	$231,155	0.61%	D
4BR	$1,550	$285,992	0.54%	F
5BR	$1,798	$335,359	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 43701 (Zanesville, OH) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 43701 in Zanesville, Ohio, is set by HUD for 2026. For a two-bedroom unit, the FMR is $1010, which represents 21.1% of the median household income of $57,565. This indicates that the rent for a two-bedroom unit is relatively affordable for the average household in the area. However, the actual rental prices in the market can be significantly higher, as evidenced by the Zillow median price for a two-bedroom property being $148,221. The price-to-FMR ratio of 12.2x suggests that the actual market rents are much higher than the FMR, creating a potential gap between what voucher holders can afford and what landlords might charge. Voucher holders face constraints due to the difference between FMR and market rents. While the voucher covers up to $1010 for a two-bedroom unit, landlords may charge more than this amount. Therefore, voucher holders must find units that are priced at or below the FMR, which can be challenging given the high market prices. #### Affordability & Renter Profile In ZIP code 43701, 36.6% of the population are renters, indicating a significant demand for rental housing. With a median household income of $57,565, affordability is a key concern for many residents. The occupancy rate of 89.1% suggests that there is a moderate level of demand for housing, but it also implies that there could be some oversupply if the rate were closer to 100%. Given the high price-to-FMR ratio, it is likely that the rental market is tight, especially for those relying on Section 8 vouchers. The median income of $57,565 means that a substantial portion of the population may struggle to afford market-rate rentals, particularly for larger units such as three-bedroom ($1370) and four-bedroom ($1490) properties. These higher rents represent a significant portion of the median income, making it difficult for many households to find suitable accommodation without assistance. #### Investor Angle From an investor perspective, the ZIP code 43701 offers a mixed landscape. The FMR for a two-bedroom unit is $1010, which is lower than the market median price of $148,221. However, the FMR is designed to cover the rent for a voucher holder, not the purchase price of a property. To assess whether the ZIP code is cash-flow positive at FMR, we need to consider the typical expenses associated with owning and renting out a property. Assuming a typical mortgage payment, property taxes, insurance, maintenance, and other costs, the break-even point for a landlord would likely be higher than the FMR. For instance, if a landlord purchases a two-bedroom property at the Zillow median price of $148,221, they would need to factor in financing costs, property taxes (which are around 1.2% of the property value), insurance, and maintenance. Given these factors, it is unlikely that a landlord would achieve positive cash flow solely based on the FMR. The investment grade for this ZIP code is moderate. While there is a strong demand for rental housing, the high market prices relative to the FMR suggest that investors should carefully evaluate their cost structures before entering the market. Additionally, the limited number of units that fall within the FMR range could make it challenging to find suitable investment opportunities. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should focus on smaller units such as one-bedroom or studio apartments. The FMR for a one-bedroom unit is $850, which is lower than the FMR for a two-bedroom unit. This could provide a better chance of achieving positive cash flow while still catering to the needs of voucher holders. 2. **Consider Location-Specific Strategies**: Within ZIP code 43701, certain neighborhoods may have more affordable housing options. Investors should conduct a detailed neighborhood analysis to identify areas where rents are closer to the FMR. This could involve looking at older properties that are less expensive to purchase and maintain. 3. **Explore Alternative Financing Options**: Given the high market prices, traditional financing methods may not yield positive cash flow. Investors should explore alternative financing options such as hard money loans, private lending, or creative lease-to-own arrangements to reduce upfront costs and improve profitability. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 43701 is to **Skip**. The high price-to-FMR ratio and the limited number of units that fall within the FMR range make it challenging to achieve positive cash flow. Additionally, the tight rental market and high median home prices suggest that the cost of entry is too high relative to the potential returns. Investors should consider other ZIP codes with more favorable FMR-to-market-price ratios or explore alternative strategies to improve the financial viability of their investments. --- This analysis provides a clear picture of the challenges faced by both voucher holders and investors in ZIP code 43701. The high market prices and limited availability of units within the FMR range make it a less attractive option for Section 8-focused investments.

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.