Location: Monroe County, OH | Metro: Monroe County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
U.S. Census Bureau data (2024)
A skeptical investor might question if the Fair Market Rent (FMR) of $1,320 can cover the mortgage on a home in this area. The data does not provide specific information on median home values or typical mortgage amounts in ZIP 43786. However, given that the FMR is set based on local housing costs, it is designed to ensure that rental income can support property ownership expenses, including mortgages. This means that while we cannot cite exact figures, the FMR is intended to be reflective of the cost of owning a home in this area.
The second objection could be whether there is sufficient demand among renters, considering the rental rate is 29.4%. The data indicates that ZIP 43786 has a relatively high percentage of households that are rented, suggesting a notable presence of renters in the area. This implies that there is indeed a demand for rental properties. However, the lack of specific data on vacancy rates makes it challenging to quantify how competitive the rental market truly is. It is advisable to investigate further into vacancy trends and rental turnover rates to gain a clearer understanding of the market dynamics.
Lastly, an investor might wonder if housing vouchers will keep up with the market rents in ZIP 43786. The data does not specify the number of voucher holders or their impact on the local rental market. Nonetheless, it is important to note that the federal government periodically adjusts the value of housing vouchers to reflect changes in the cost of living and housing prices. In ZIP 43786, the FMR serves as a benchmark for these adjustments. Therefore, while we cannot guarantee that vouchers will always match market rents, they are designed to approximate them, ensuring that voucher holders can access a range of rental options.
In summary, while the data does not fully address every concern, it provides a basis for understanding the rental market in ZIP 43786. The FMR is meant to align with local housing costs, indicating that rental income should support property ownership. A significant portion of households being rented suggests a viable market for landlords. And although specific voucher data is lacking, adjustments are made to align with the local FMR, which helps maintain affordability for tenants.
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.