Location: Tuscarawas County, OH | Metro: Coshocton County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
A skeptical investor considering real estate investments in ZIP code 43840 might raise several concerns. Let's address these with the available data.
Objection 1: Will Fair Market Rent (FMR) of $970 (for metro FY 2026) cover the mortgage on a typical home in this area?
The FMR of $970 is the maximum amount that a tenant can be expected to pay in this zip code. However, the data does not provide specific information regarding the average mortgage payments for homes in ZIP 43840. To determine if the FMR covers the mortgage, one must compare it against the monthly mortgage costs, which include principal, interest, taxes, and insurance. Without detailed local housing price data, we cannot definitively state whether this FMR will cover a mortgage payment, but it offers a benchmark for rental pricing.
Objection 2: Is there enough renter demand at 20.1%?
The 20.1% figure likely represents the percentage of households that are renters. While this number is relatively low compared to national averages, it does not tell us the full story. Demand for rentals can also be influenced by factors such as job growth, population changes, and the availability of affordable housing. The low renter percentage suggests a smaller pool of potential tenants, but without additional data on these influencing factors, we cannot conclusively judge the demand level. Landlords should consider conducting further research into local economic trends and housing needs.
Objection 3: Will vouchers keep pace with market rents of $773?
Vouchers are intended to help bridge the gap between what a tenant can afford and the actual cost of housing. If the voucher amount is less than the market rent of $773, landlords may face challenges in covering the full rent. The data does not specify the exact amount of vouchers available or their average value. It is crucial for investors to monitor the local housing authority's voucher program updates and adjust their rental strategies accordingly. Historically, voucher amounts have increased over time, but this trend is not guaranteed and must be verified annually.
In conclusion, while the data provides some key insights into the rental market in ZIP 43840, it is limited in addressing all aspects of investment viability. Investors should conduct thorough due diligence, including evaluating local mortgage costs, researching economic indicators, and staying informed about federal housing assistance programs.
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.