Location: Morgan County, OH | Metro: Morgan County, OH
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 | $770 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $151,083 | 0.68% | D |
| 3BR | $1,220 | $224,841 | 0.54% | F |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 43758 in Malta, OH, under the Section 8 program are significant. First, consider the disparity between the market rent of $736 and the Fair Market Rent (FMR) set at $870 for fiscal year 2024. This gap suggests that landlords may struggle with tenant turnover, as the program's rent limits do not align with the local market conditions. Landlords might find it challenging to attract tenants willing to pay the higher FMR through Section 8, which caps rent at lower levels.
Vacancy exposure is another critical risk factor. The Days on Market (DOM) data is currently unavailable, making it difficult to predict how long properties might remain vacant. In a market where competition for tenants is high due to the lower market rent compared to FMR, extended vacancies could lead to significant financial losses for landlords.
Deferred maintenance also poses a threat. With a typical home value of $155,555 and a median income of $61,397, many residents may not have the financial resources to maintain their homes adequately. This could translate into higher repair costs for landlords, especially if they inherit properties in need of significant upgrades or maintenance.
However, these risks must be weighed against the strong demand for rental housing. ZIP 43758 has a renter share of 13.5%, indicating a relatively high concentration of renters who might rely on Section 8 vouchers. High renter density often correlates with robust voucher demand, suggesting that landlords could benefit from a steady pool of potential tenants.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 43758 is moderate. While there are substantial challenges related to tenant turnover, vacancy exposure, and deferred maintenance, the strong renter base provides some stability and opportunity.
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.