Location: Harrison County, OH | Metro: Harrison County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The ZIP code 43974 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, especially when comparing the non-disclosed market rent to the $1,020 Fair Market Rent (FMR) set for FY 2026. This discrepancy can lead to frequent changes in occupancy, which increases administrative burdens and costs associated with screening and placing new tenants.
Vacancy exposure is another critical risk factor. With an undisclosed number of days on the market (DOM), there's uncertainty about how quickly properties can be filled. This delay can result in lost rental income, as well as additional expenses for advertising and vacancy preparation. Furthermore, the area's median income of $70,750 suggests that many residents may struggle to afford housing without assistance, potentially leading to higher demand for Section 8 vouchers. However, this same economic condition implies a greater likelihood of financial instability among tenants, increasing the risk of deferred maintenance and potential damage to properties.
Despite these risks, the 0.0% renter share statistic stands out as a mitigating factor. Typically, a high concentration of renters indicates a higher demand for Section 8 vouchers, which can stabilize the rental market. In ZIP 43974, however, the absence of renters might suggest that the local population is predominantly homeowners, reducing competition for rental units and stabilizing the tenant pool. This unique characteristic could mean that landlords face less pressure from voucher holders and more control over their tenant selection process.
Verdict: Moderate risk for a first-time Section 8 landlord. The combination of uncertain market conditions and the potential for tenant financial instability necessitates careful management and possibly higher reserves for maintenance and vacancy periods. However, the low renter share may offer some protection against voucher-driven competition.
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.