Section 8 Fair Market Rent (FMR) for ZIP 44875 - 2027

Location: Crawford County, OH | Metro: Mansfield, OH MSA

Investment Score for ZIP 44875

Monthly Rent (2BR)

$1,000

Median Price (2BR)

$143,836

1% Rule

0.7%

Annual Yield

8.34%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$800
2 Bedrooms	$1,000
3 Bedrooms	$1,330
4 Bedrooms	$1,540
5 Bedrooms	$1,786
6 Bedrooms	$2,000
7 Bedrooms	$2,160
8 Bedrooms	$2,268

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,000	$143,836	0.7%	D
3BR	$1,330	$203,053	0.66%	D
4BR	$1,540	$248,911	0.62%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,144

Median Household Income

$61,276

Housing Units

6,077

Renter Percentage

26.9%

Occupancy Rate

92.4%

Renter Occupied

1,511

The ZIP code 44875, located in Shelby, Ohio, represents a modest suburban market characterized by stable housing conditions and a significant portion of renters. This area offers opportunities for landlords and small-portfolio investors looking to enter a balanced rental market.

Fair Market Rent (FMR) for a one-bedroom apartment is set at $860 per month for fiscal year 2024.
The market rent, as measured by ZORI (Zillow Observed Rental Index), is currently $750 for a one-bedroom unit, indicating a potential upside for those who can offer competitive amenities or location advantages.
The median home value in the area stands at $184,560, reflecting a relatively affordable market for both homeowners and investors.
Renters make up 26.9% of the local housing market, suggesting a solid demand for rental properties but also a notable presence of owner-occupied homes.
The median income of residents is $61,276, providing insight into the financial capacity of potential tenants and buyers.

Synthesizing these points, Shelby, Ohio presents a viable investment opportunity for those interested in the rental market. With a fair market rent slightly above the actual market rent, there's room for property owners to increase their rental rates. The median home value indicates that the area is affordable, which could attract first-time homebuyers and investors alike. The renter share, while not overwhelming, ensures a steady pool of tenants. However, the median income suggests that tenants might be sensitive to price increases, so maintaining competitive rents will be key to attracting and retaining residents. Overall, Shelby offers a stable environment for generating rental income without the volatility seen in some other markets.

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.