Location: Tuscarawas County, OH | Metro: Guernsey County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 44699, located in Tuscarawas County, Ohio, reveals several key points for potential Section 8 real-estate investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $1,080. However, the current market rent, according to Census ACS data, is only $982. This indicates that landlords might struggle to cover costs if they rely solely on the FMR rate, as it is higher than what the market currently supports. The gap suggests that tenants receiving Section 8 assistance might find it difficult to secure housing at the FMR rate, especially since market rents are lower.
Regarding the affordability of acquisitions, the median home value in ZIP 44699 is $183,389. Unfortunately, the data does not provide insights into the typical days on market (DOM) or the percentage of homes that required a price cut before selling. Without these details, it's challenging to assess how competitive the real estate market is for potential buyers. However, the median home value provides a baseline for investment considerations.
The third point concerns tenant demand. The total population of ZIP 44699 is 725, with a renter share of 16.7%. This relatively low number of renters means that the pool of potential Section 8 tenants is limited, which could impact the ability to consistently fill rental properties with eligible participants. Given the small population size, even a slight fluctuation in the number of renters could have a significant effect on the availability of tenants.
Verdict: The rent math in ZIP 44699 does not favor landlords looking to maximize returns based on the FMR rate, as it exceeds the current market rent. Acquisition costs are reasonable, with a median home value under $200,000, but without data on DOM and price cuts, the full picture of market competitiveness remains incomplete. Lastly, tenant demand is constrained by the small population and low renter share, making it a less attractive option for those seeking a robust tenant base. Overall, while not impossible, investing in this ZIP code would require careful consideration of these factors to ensure viability and profitability.
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.