Location: Perry County, OH | Metro: Perry County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 43761 are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $870 per month for fiscal year 2024. This SAFMR rate is specifically tailored for this ZIP code, reflecting the unique housing costs and conditions within 43761.
To understand how these economics play out for landlords, it's essential to break down the components of a Section 8 voucher payment. First, the tenant is responsible for paying approximately 30% of their income toward rent. For the average household income in ZIP 43761, this translates to around $400-$500 per month for a two-bedroom unit. However, the exact amount varies based on individual tenant income levels.
The Section 8 program also provides utility allowances, which can vary but typically range from $200-$300 per month for a two-bedroom apartment. These allowances cover expenses such as electricity, gas, water, and sometimes garbage collection. The total reimbursement to the landlord from the Housing Authority is the sum of the tenant's contribution and the utility allowance, capped at the SAFMR rate of $870.
This means that if the tenant's portion plus the utility allowance exceeds $870, the excess will not be reimbursed. Conversely, if the combined amount is less than $870, the landlord receives the full SAFMR rate. In ZIP 43761, where the local market rent data is currently unavailable, landlords should consider the SAFMR rate as the maximum reimbursement they can expect from the Housing Authority.
Given the SAFMR rate and the typical contributions from tenants and utility allowances, landlords can expect a reimbursement gap or surplus when comparing to market rents. If the market rent is higher than the SAFMR rate, landlords will face a reimbursement gap, meaning they receive less than the market rate. For example, if the market rent is $950, landlords would have a reimbursement gap of $80 per month.
In contrast, if the market rent is lower than the SAFMR rate, landlords might receive a surplus. For instance, if the market rent is $800, landlords would receive an extra $70 per month. Landlords must carefully assess the local rental market and their own property values to determine whether participating in Section 8 is financially viable given the reimbursement structure.
The typical reimbursement gap or surplus for a two-bedroom apartment in ZIP 43761 is thus dependent on the actual market rent. Until more precise market data is available, landlords should plan for a potential reimbursement gap or surplus based on the $870 SAFMR rate.
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.