Location: Morgan County, OH | Metro: Athens County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The classification of ZIP code 43728 hinges on the interplay between its yield potential and stability metrics. With a Fair Market Rent (FMR) of $970 for the metro area in fiscal year 2026, compared to a market rent of $694, the yield potential is relatively strong. This suggests that there is an opportunity for landlords to charge above the average market rate, thereby increasing their rental income. However, the median home value stands at $135,152, which is a significant investment for property owners.
Stability indicators paint a more nuanced picture. The percentage of renters in ZIP 43728 is 19.7%, which is lower than the typical threshold for high-renter concentration areas. This figure implies a mixed housing market where homeownership is prevalent, potentially affecting the demand for rental properties. Unfortunately, the data does not provide the number of days on market (DOM), which would have been useful in assessing how quickly properties can be rented out. Lastly, the median household income is $66,000, indicating a middle-class neighborhood where tenants might struggle to afford rents significantly higher than the market rate of $694.
Given these specifics, ZIP 43728 leans towards being a moderate-stability market with decent yield potential. The FMR of $970 versus the market rent of $694 allows for some upside in rental pricing, but the lower percentage of renters and median income suggest that this upside is limited. Landlords and small-portfolio investors should consider the balance between rental yields and the risk of vacancy rates rising due to the lower renter population and income levels.
To summarize, ZIP 43728 is not a high-yield/low-stability flip-style market, nor is it a steady-cashflow zone. It falls somewhere in between, offering opportunities for rental income growth while also presenting challenges related to tenant affordability and market stability.
Data Sources: FMR data from HUD (2027). 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.