Location: Hancock County, OH | Metro: Toledo, OH MSA
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 | $780 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,400 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,400 | $209,314 | 0.67% | D |
| 4BR | $1,530 | $216,510 | 0.71% | D |
U.S. Census Bureau data (2024)
The ZIP code 44817 represents a small, tight-knit community with a total population of 1,505. Only 15.2% of the residents are renters, indicating a primarily owner-occupied area. The median household income here is $64,565, which suggests a middle-class neighborhood. Median home values stand at $156,413, reflecting an affordable housing market.
From an investment perspective, the Federal Market Rent (FMR) for ZIP 44817 in fiscal year 2024 is set at $1050. However, the actual market rent, according to the Census Bureau's American Community Survey (ACS), is lower at $907. This discrepancy presents an opportunity for landlords who can manage properties efficiently, as they can potentially charge slightly above the market rate while still being within the FMR guidelines.
Given these economic parameters, ZIP 44817 is better suited for a hands-on value-add buyer rather than a hands-off voucher operator. With only 15.2% of the population renting, there is less demand for Section 8 vouchers, making it challenging for operators relying solely on voucher tenants. Instead, a landlord who can improve property conditions and increase rental rates to closer align with the FMR would likely find greater success. This approach allows for leveraging the slight premium between market rent and FMR, while also catering to the needs of the local rental market.
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.