Location: Perry County, OH | Metro: Perry County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP 43782, which encompasses Shawnee, Ohio, hinges on the significant gap between the Fair Market Rent (FMR) set at $870 for fiscal year 2024 and the actual market rent reported by the Census ACS at $665. This gap stands at $205, or approximately 30.8%, indicating that landlords who accept Section 8 vouchers can potentially charge higher rents than those in the open market.
Given the context of Shawnee, OH, where 12.9% of the population are renters, the median income is $54,844, and the median home value is notably low, accepting voucher tenants can be a strategic yield play. The FMR exceeds the market rent, allowing landlords to increase their revenue per unit while still providing affordable housing options to low-income families.
The higher FMR also suggests that the government is willing to subsidize a greater portion of the rent for voucher holders, making it financially viable for landlords to offer units at a price point above the local average. This is particularly advantageous given the low median home value in the area, which indicates a generally lower cost of living and less competition from higher-priced rentals.
However, landlords should be aware that the cost of maintaining units for voucher tenants might differ from that of market-rate tenants. Vouchers cover a substantial portion of the rent but require adherence to certain standards and regulations. Therefore, while the FMR provides an opportunity to improve yields, it's essential to balance this against the potential administrative and maintenance costs associated with the program.
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.