Location: Tuscarawas County, OH | Metro: Guernsey County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
A decision tree for whether a landlord should invest in ZIP code 43837 for Section 8 properties hinges on three key factors: Fair Market Rent (FMR), market rent, and rental demand. Let's break down the analysis.
1. Does the FMR of $1,110 cover the debt service on a property valued at $212,035?
Yes: The FMR of $1,110 can cover the monthly mortgage payment on a property valued at $212,035, assuming typical interest rates and loan terms. This makes the investment financially viable under Section 8 guidelines.
No: If the FMR does not cover the monthly mortgage payment, investing in Section 8 properties in ZIP 43837 would not be advisable. Landlords need to ensure that the rent they receive will fully cover their financial obligations.
It Depends: This scenario arises if the landlord has a different financing structure or interest rate. A detailed calculation based on the specific loan terms is required to make an informed decision.
2. Is the market rent of $935 above, at, or below the FMR?
Above FMR: If the market rent exceeds the FMR, landlords might consider holding off on purchasing properties solely for Section 8 tenants, as they could potentially earn higher rents from market-rate tenants.
At or Below FMR: When market rent is equal to or lower than the FMR, Section 8 properties become more attractive because landlords can still achieve competitive rental income without sacrificing occupancy rates.
3. Are 16.9% of residents renters and do the days on market (DOM) indicate sufficient demand?
Yes: With 16.9% of residents being renters and no data indicating long days on market, there appears to be a steady demand for rental properties. This suggests that finding tenants for a Section 8 property would not be difficult.
No: If the percentage of renters is significantly lower or the days on market are unusually high, it would signal a weak rental market, making it harder to secure tenants for a Section 8 property.
It Depends: The lack of days on market data introduces uncertainty. While the percentage of renters is relatively low, landlords must assess other local factors such as population growth or economic trends to determine if demand will increase in the future.
In summary, if the FMR covers the debt service and market rent is at or below FMR, and there is a reasonable level of rental demand, then the answer is Yes. Otherwise, the decision to invest in ZIP 43837 for Section 8 properties becomes less favorable.
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.