Location: Monroe County, OH | Metro: Monroe County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 43946 is centered around the significant gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $970, while the Census ACS data indicates that the average market rent stands at $602. This means there is a gap of $368, which translates to approximately 61% of the market rent.
Given that the FMR exceeds the market rent, landlords and small-portfolio investors can leverage this situation to maximize their yields. The federal government's Housing Choice Voucher program, commonly known as Section 8, pays up to the FMR for eligible tenants, allowing property owners to charge closer to the FMR without significantly increasing the risk of vacancy. In ZIP 43946, where only 19.0% of residents are renters and the median household income is $62,832, landlords can benefit from the voucher program's higher payment standards.
This ZIP code offers an opportunity for landlords to receive rental payments that are well above the local market rate, thereby improving cash flow and investment returns. With the median home value being listed as N/A, it suggests that the area may be predominantly rental-focused, further supporting the viability of the Section 8 strategy. By accepting voucher tenants, landlords can ensure stable occupancy and consistent income streams that exceed the typical market rent by a substantial margin.
However, it is important to note that while the higher FMR provides an attractive financial incentive, landlords must also consider the administrative requirements and potential challenges associated with managing Section 8 properties. These include regular inspections, rent restrictions, and the need to maintain properties to certain standards, all of which can impact the overall management costs and operational efficiency.
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.