Location: Crawford County, OH | Metro: Crawford County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The higher FMR indicates that landlords participating in the Section 8 program can expect to receive a subsidy that bridges this gap, making it financially viable to house voucher tenants. In fact, the subsidy ensures that the landlord receives the full $970, despite the market conditions suggesting a lower rent rate. This scenario transforms the investment into a yield play, where the guaranteed income from the voucher program surpasses what could be earned in the open market.
In the broader context of ZIP 44856, the population consists of 21.9% renters. While the median home value is not available, the median income stands at $38,750. These factors suggest that the majority of residents might find it challenging to afford housing without assistance. The voucher program thus serves as a critical support mechanism, ensuring that low-income individuals can access decent housing.
However, landlords must also consider the potential drawbacks of participating in the Section 8 program. Although the financial yield is positive, there may be additional administrative burdens and regulations associated with the program. Moreover, the cost of maintaining properties to meet government standards could impact overall profitability.
To summarize, the gap between FMR and market rent in ZIP 44856 makes it an attractive option for landlords seeking stable, above-market returns through the Section 8 program. Despite the benefits, careful consideration of the program's requirements and potential costs is essential for maximizing investment success.
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.