Location: Noble County, OH | Metro: Guernsey County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
Investing in Section 8 properties in ZIP code 43778 comes with several risks that landlords must be aware of. First, tenant turnover can be a significant issue due to the slight discrepancy between the market rent of $1,060 and the Fair Market Rent (FMR) of $1,070 for fiscal year 2026. This minor difference might not seem substantial, but it can lead to tenants seeking better deals elsewhere, causing frequent turnovers and additional administrative burdens.
Vacancy exposure is another concern. The average days on market (DOM) is not available, which makes it difficult to predict how long a property might remain vacant. In areas where rental turnover is high, vacancies can occur more frequently, leading to periods without rental income and increased costs associated with marketing and maintenance.
The deferred-maintenance exposure is also noteworthy. With a typical home value of $211,219 and a median income of $65,556, residents may struggle to afford necessary repairs and upkeep, potentially leaving landlords responsible for these costs. This financial burden can affect the overall profitability of the investment.
However, these risks are somewhat mitigated by the high concentration of renters in the area, with 9.5% of the population being renters. High renter density typically correlates with higher demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of income. The presence of a large number of potential voucher holders can help maintain consistent tenancy and reduce the likelihood of extended vacancies.
In conclusion, the risks associated with Section 8 investments in ZIP code 43778 are moderate. While there are challenges related to tenant turnover, vacancy exposure, and deferred maintenance, the high renter density offers a counterbalance that can support a stable investment environment for first-time Section 8 landlords.
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.