Section 8 Fair Market Rent (FMR) for ZIP 43787 - 2027

Location: Washington County, OH | Metro: Morgan County, OH

Investment Score for ZIP 43787

Monthly Rent (2BR)

$1,110

Median Price (2BR)

$147,025

1% Rule

0.75%

Annual Yield

9.06%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$970
2 Bedrooms	$1,110
3 Bedrooms	$1,350
4 Bedrooms	$1,570
5 Bedrooms	$1,821
6 Bedrooms	$2,040
7 Bedrooms	$2,203
8 Bedrooms	$2,313

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,110	$147,025	0.75%	D
3BR	$1,350	$217,306	0.62%	D
4BR	$1,570	$232,663	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,524

Median Household Income

$45,880

Housing Units

1,570

Renter Percentage

25.8%

Occupancy Rate

68.7%

Renter Occupied

278

The ZIP code 43787, encompassing the town of Malta, Ohio, offers a stable environment for real estate investment, particularly for those interested in Section 8 housing opportunities. The town's proximity to larger urban centers such as Cleveland and Akron provides residents with access to employment and amenities while maintaining a suburban feel.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,050. This figure represents the maximum rental amount that can be charged for Section 8 housing in the region, providing a clear benchmark for potential rental income.
The current market rent in ZIP 43787, according to the Census American Community Survey (ACS), stands at $914. This indicates that properties are currently being rented below the FMR, offering landlords a margin for growth if they can bring their rents closer to the FMR without exceeding it.
The median home value in the area is $145,347. This relatively low median value makes it feasible for investors to acquire properties at a reasonable cost, especially when considering the potential for rental income based on the FMR.
Renters make up 25.8% of the population, suggesting a moderate demand for rental properties. While this percentage is not extremely high, it does indicate a steady need for affordable housing options in the area.
The median income in ZIP 43787 is $45,880. This figure is important for assessing the financial capacity of potential tenants and aligns well with the income limits typically associated with Section 8 eligibility.
The Days on Market (DOM) data is currently N/A, which could mean that property listings are moving quickly or that there isn't sufficient data to provide an accurate average. Either way, it suggests that the market for rental properties in Malta is active.

Investors looking to enter the Section 8 market in ZIP 43787 can expect a moderate demand for rental properties, with the potential to achieve rental rates close to the FMR. Given the median home value and median income, the area presents a balanced opportunity where properties can be purchased affordably, and tenants can be found who meet the income requirements for Section 8 assistance. However, the absence of DOM data means that further research should be conducted to understand how quickly properties are being leased. Overall, the combination of these factors points to a viable investment opportunity for those willing to navigate the nuances of the Section 8 program.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.