Section 8 Fair Market Rent (FMR) for ZIP 44490 - 2027

Investment Score for ZIP 44490

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A decision tree for evaluating whether to purchase a property in ZIP 44490 (Washingtonville, OH) for Section 8 investment hinges on three key questions.

1) Does the Fair Market Rent (FMR) of $860 cover the debt service on a $109,904 property?

To determine if the FMR clears the debt service, you must first calculate the debt service based on your financing terms. Assuming a typical mortgage rate of 5% and a 30-year term, the monthly payment on a $109,904 property would be approximately $580. With an FMR of $860, the answer is Yes. The FMR comfortably exceeds the debt service, providing a buffer for maintenance and other expenses.

2) Is the market rent of $782 above, at, or below the FMR?

The market rent of $782 is below the FMR of $860. This means that the potential rental income from a Section 8 tenant is higher than what the market currently offers. Thus, the answer is Above. This indicates that Section 8 tenants could offer better financial returns compared to market-rate tenants.

3) Are 45.2% renters combined with the unknown days on the market (DOM) sufficient demand for a Section 8 property?

The percentage of renters in Washingtonville, OH is 45.2%, which suggests a moderate level of rental demand. However, the lack of data regarding the days on the market (DOM) makes it difficult to assess the speed at which properties are rented out. Given the rental percentage alone, the answer is It Depends.

• If the DOM is short, indicating quick turnover and strong demand, then the answer shifts to Yes. A combination of high FMR relative to debt service and short DOM signals a favorable environment for Section 8 investments.
• If the DOM is long, suggesting weak demand or difficulty in renting out properties, the answer remains No. In such a scenario, even though the FMR is higher than the market rent, the challenge in finding tenants could outweigh the benefits.

In conclusion, ZIP 44490 presents a financially viable opportunity for Section 8 investment based on the FMR covering debt service and exceeding market rents. However, the strength of rental demand ultimately depends on the speed at which properties can be leased, which requires further investigation into the DOM data.

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.