Location: Holmes County, OH | Metro: Coshocton County, OH
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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $315,118 | 0.32% | F |
| 3BR | $1,250 | $363,692 | 0.34% | F |
| 4BR | $1,470 | $456,572 | 0.32% | F |
| 5BR | $1,705 | $532,989 | 0.32% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 44654, which encompasses Millersburg, OH, and parts of Holmes County, can be straightforward if you understand how the payments are structured. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $970. This figure represents the maximum amount that a landlord can expect to receive from the government under the Section 8 Housing Choice Voucher program.
In contrast, the local market rent for a similar two-bedroom unit, according to Census ACS data, averages around $834. This indicates that the SAFMR is higher than the average market rent, which could be beneficial for landlords.
A Section 8 voucher works by covering the difference between the tenant's portion of the rent and the total rent due. Typically, the tenant is responsible for paying 30% of their income toward rent. For instance, if a tenant's monthly income is $2,000, they would pay approximately $600 towards the rent. The remaining amount up to the SAFMR of $970 would be covered by the government, assuming the rent does not exceed the SAFMR limit.
Utility allowances are also factored into the overall payment structure. These allowances vary but generally cover a portion of the tenant's electricity, gas, water, and sewer costs. In ZIP 44654, the utility allowance might add an additional $100-$200 to the base rent, depending on the specifics of the lease agreement and the tenant's needs.
To illustrate, let's assume a two-bedroom apartment is rented at the SAFMR rate of $970. If the tenant pays $600 based on their income, and there is a utility allowance of $150, the government will reimburse the landlord for the remaining $320, making the total reimbursement $970.
However, if the local market rent is only $834, and the landlord accepts this lower rate, the government will still only reimburse up to the market rate. Thus, the landlord would receive the tenant's $600 contribution plus the government's reimbursement of $234, totaling $834. This scenario leaves the landlord with a surplus of $136 over the market rent, as the SAFMR is higher than the local average.
In summary, landlords in ZIP 44654 can expect a consistent rental income of up to $970 per month for a two-bedroom unit under the Section 8 program. Given the local market rent of $834, this typically results in a surplus for landlords who participate in the program, ensuring that they receive more than the average market rate for similar properties.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.