Location: Ashland County, OH | Metro: Ashland County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 44874 provides insight into potential investment returns for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a 2-bedroom apartment in the area, as of FY 2026, is set at $970 per month, while the Census ACS reports the market rent at $904 per month.
To calculate the gross yield, we first annualize these figures. For the FMR, this amounts to $11,640 annually ($970 x 12 months). For the market rent, it totals $10,848 annually ($904 x 12 months).
The median home value in ZIP 44874 is currently unavailable. However, with an annualized FMR of $11,640, the implied gross yield for a property under Section 8 would be higher compared to the market rent scenario of $10,848. This means that if you were to invest in a property in this ZIP code through the Section 8 program, your annual rental income would be greater than what you might expect from renting it on the open market.
Given the 23.7% renter density in the area, it suggests a moderate demand for rental properties. However, the lack of data regarding the Days on Market (DOM) makes it difficult to assess how quickly properties are rented out, which could affect vacancy rates and thus overall yield.
In conclusion, the gross yield from the Section 8 program appears more favorable at $11,640 annually compared to the market rent of $10,848. This higher yield is due to the guaranteed rent payment structure of Section 8, which can provide stability for landlords. However, the actual performance will depend on factors such as property management costs, maintenance expenses, and the speed at which properties are occupied, as indicated by the DOM figure.
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.