Location: Noble County, OH | Metro: Guernsey 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 | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,530 | $266,191 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 43780 presents a dynamic rental market influenced by the interplay between Federal Market Rent (FMR) and actual market conditions. The FMR stands at $1,120, which is set for the fiscal year 2026, indicating a benchmark that reflects the government's assessment of fair market rates. In contrast, the current market rent as per Census ACS data is $1,003. This suggests that while the government's estimate is higher, the actual rents being charged in the area are lower, pointing towards a market where demand may be slightly less robust compared to the supply.
The median home value of $158,063 provides insight into the overall affordability and economic profile of the area. A lower median home value can attract first-time buyers and investors looking for properties at a lower price point, but it also means that homeownership might be less common, and therefore, the rental market could be more significant.
The 13.2% renter share is relatively low, which implies that a majority of residents in ZIP 43780 prefer owning their homes over renting. However, this also indicates that there could be long-term housing pressures, especially if the population grows and the number of renters increases. As more people seek rental options, the competition for available units could rise, potentially driving up rents and making the rental market more attractive to landlords and small-portfolio investors.
The absence of data on the percentage of price-cut share and days on market (DOM) makes it difficult to draw conclusions on the immediate supply-demand balance. Nonetheless, the current market rent being below the FMR suggests that landlords might have some flexibility in adjusting their pricing strategies to align closer with the FMR without losing tenants. This could be an opportunity for landlords to increase their income marginally, provided they offer competitive amenities and maintenance standards.
In summary, ZIP 43780 is a market characterized by modest rental prices and a predominantly owner-occupied housing stock. The low renter share points to potential future growth in the rental sector, driven by demographic changes and economic factors. Landlords and investors should monitor these dynamics closely to make informed decisions about their investment strategies in this area.
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.