Location: Wyandot County, OH | Metro: Hancock 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 | $790 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,340 | $307,429 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44802 in the upcoming fiscal year 2026 is set at $1,150. This figure represents the maximum amount that a landlord can receive under the Section 8 program, which is designed to help low-income families afford housing. It's important to note that this is the payment standard, meaning it's the limit on what the government will pay towards your tenant's rent.
In contrast, the average rent for the area, based on Census American Community Survey (ACS) data, is around $729. This lower average rent suggests that the FMR of $1,150 is higher than what most renters in the area typically pay. As a landlord, you can charge up to the FMR, but the actual rent paid by the tenant will be a combination of their contribution and the government subsidy, ensuring that the total does not exceed $1,150.
The 10.7% renter share indicates that a significant portion of the population in ZIP 44802 relies on renting as their primary form of housing. This percentage reflects the demand for rental properties, including those that might be part of the Section 8 program. Given this demand, it makes sense to consider a Section 8 rental, especially if you're looking to enter the market in an area where rental housing is a necessity for many residents.
If you're thinking about purchasing a property to become a Section 8 landlord, the median home value of $283,359 gives you an idea of the typical acquisition cost. While this price tag might seem high, remember that the FMR is designed to ensure that landlords receive fair compensation for their properties, and the government payment standard helps cover the difference between what tenants can afford and the actual rent charged.
Before making the decision to accept a Section 8 tenant, verify that your property meets all the necessary inspection criteria. The government conducts thorough inspections to ensure that the homes provided through the program are safe and habitable. Failure to meet these standards can result in penalties or loss of participation in the program. Once you confirm that your property complies with these requirements, you can proceed with confidence, knowing that you are providing affordable housing while also receiving a steady income.
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.