Location: Perry County, OH | Metro: Perry County, OH HUD Metro FMR Area
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 | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $870 | $141,174 | 0.62% | D |
| 2BR | $1,020 | $155,366 | 0.66% | D |
| 3BR | $1,280 | $222,536 | 0.58% | F |
| 4BR | $1,630 | $222,649 | 0.73% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 43764, which encompasses New Lexington, Ohio, in Perry County, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment. For fiscal year 2024, the SAFMR for a two-bedroom rental unit in this specific ZIP code is set at $880. This figure represents the maximum amount that the Section 8 program will pay for a two-bedroom apartment in this area.
In contrast, the local market rent for a similar two-bedroom unit, according to Census ACS data, is $698. This discrepancy between the SAFMR and the local market rent can be advantageous for landlords who are willing to participate in the Section 8 program. Here’s how the payment structure works:
A landlord receives a monthly rental subsidy from the local housing authority, which is calculated based on the SAFMR minus the tenant's portion of the rent. The tenant's portion is typically 30% of their adjusted income, but it cannot exceed 40% of the FMR. In ZIP 43764, if a landlord charges the full $880, the tenant would pay no more than $264 per month (30% of $880).
The remaining balance is paid by the housing authority. Additionally, the voucher includes utility allowances, which are separate from the rent and vary depending on the size of the household and the number of bedrooms. For a two-bedroom unit, the utility allowance might be around $150-$200 per month, depending on the specifics of the voucher and the household size.
To illustrate, let’s assume a landlord charges the full $880 for a two-bedroom apartment. If the tenant pays $264, the housing authority would cover the difference, which is $616. Including an average utility allowance of $175, the total reimbursement to the landlord would be approximately $791 per month.
This results in a reimbursement gap or surplus. Given the local market rent of $698, the landlord would receive $93 more than the average market rent when participating in the Section 8 program. However, this surplus does not account for potential maintenance costs, vacancy rates, or other factors that could affect profitability.
In summary, landlords in ZIP 43764 can expect a Section 8 voucher to cover $791 of a $880 two-bedroom rental, leaving a surplus of $93 compared to the local market rent of $698. This surplus can provide financial stability and predictability for landlords who choose to accept Section 8 tenants.
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.