Location: Ashtabula County, OH | Metro: Ashtabula County, OH HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $156,642 | 0.68% | D |
| 3BR | $1,310 | $207,381 | 0.63% | D |
| 4BR | $1,500 | $221,486 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 44003, located in Andover, OH, represents a modest rental market with a population of 4,569 residents. Only 16.8% of these individuals are renters, indicating that it is predominantly a homeowner-dominated area. This characteristic suggests that the demand for Section 8 housing vouchers is likely to be lower compared to more renter-heavy areas.
The median household income in Andover is $56,429, which provides a benchmark for assessing the affordability of rents. The market rent for the area stands at $802 per month, representing approximately 17.7% of the median household income. This figure is derived by dividing the market rent by the annual median income ($802 / ($56,429 / 12)). While this percentage is not excessively high, it still indicates that a significant portion of the average resident's income would go towards rent.
Comparing the market rent to the Fair Market Rent (FMR) of $1,090 for the metropolitan area in fiscal year 2026, it becomes evident that the rental costs in Andover are below the FMR. This means that the area could potentially attract tenants who have vouchers covering a higher rent amount, though the overall number of such tenants might be limited due to the smaller proportion of renters in the community.
A landlord in ZIP 44003 can expect to encounter tenants who are likely to be financially constrained, given the relatively high cost of rent relative to income. These tenants will heavily rely on Section 8 vouchers to cover their monthly rent payments. It is crucial for landlords to understand that while the voucher program can ensure timely rent payments, they must also be prepared to navigate the additional administrative requirements and inspections associated with renting to Section 8 tenants.
In summary, Andover, OH, is a homeowner-dominated area with a modest demand for Section 8 housing vouchers. The typical rent consumes nearly 18% of the local median income, making it a challenging environment for financially constrained renters. Landlords should anticipate working with tenants who need the support of vouchers to afford housing and be ready to comply with the necessary regulations of the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.