Location: Seneca County, OH | Metro: Seneca 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 | $1,020 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,760 |
| 5 Bedrooms | $2,042 |
| 6 Bedrooms | $2,287 |
| 7 Bedrooms | $2,470 |
| 8 Bedrooms | $2,594 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,340 | $181,879 | 0.74% | D |
| 3BR | $1,610 | $243,973 | 0.66% | D |
| 4BR | $1,760 | $277,862 | 0.63% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 44867, located in Republic, OH, within Seneca County, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $1,260. This figure is specifically tailored to reflect the rental market conditions in ZIP 44867.
In contrast, the local market rent for a two-bedroom unit, based on Census ACS data, averages $1,049. This difference highlights the premium that Section 8 vouchers can offer landlords compared to the general market rates.
A voucher payment under Section 8 comprises two primary components: the tenant's contribution and the government's subsidy. Tenants typically pay 30% of their adjusted income towards rent, which must be reasonable and affordable. For instance, if a tenant's monthly income is $1,000, they would contribute $300 toward the rent. The government then subsidizes the remaining balance up to the SAFMR limit.
In ZIP 44867, the government also provides additional utility allowances. These allowances are designed to cover the cost of utilities such as electricity, gas, water, and sewerage. However, the exact amount of these allowances varies depending on the tenant's specific situation and the type of utilities required. For simplicity, let's assume an average utility allowance of $200 per month.
To illustrate, consider a two-bedroom apartment where the landlord charges $1,260, the maximum allowed under the SAFMR. If the tenant contributes $300, the government would pay the difference between the tenant's contribution and the SAFMR, which is $960. Adding the utility allowance of $200, the total reimbursement from the government would be $1,160. Therefore, the landlord would receive a total of $1,460 ($1,260 + $200) per month.
However, it's important to note that the SAFMR does not cover all expenses. Landlords should consider maintenance costs, property taxes, and other incidental fees. In ZIP 44867, the typical reimbursement gap for a two-bedroom apartment is $191 per month ($1,260 - $1,049 + $200). This means landlords could potentially earn $191 more per month than the average local market rent when renting to a Section 8 tenant in this ZIP code.
Section 8 vouchers ensure that landlords receive a steady stream of income, albeit slightly less than the SAFMR, but still above the average local market rent. This makes Section 8 a viable option for landlords and small-portfolio investors looking to secure long-term tenants while maintaining profitability.
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.