Location: Mansfield, OH | Metro: Mansfield, 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 | $790 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $119,190 | 0.95% | C |
| 3BR | $1,500 | $175,581 | 0.85% | C |
| 4BR | $1,740 | $211,366 | 0.82% | C |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 44905, Mansfield, OH might raise several concerns regarding the viability of investing in properties under the Section 8 program. Let's address these concerns directly using available data.
Objection 1: Will Fair Market Rent (FMR) of $920 (for zip FY 2024) cover the mortgage on a $151,636 home?
The FMR of $920 is the maximum amount that HUD will pay landlords for rental units in ZIP 44905. To determine if this covers a mortgage, we need to consider the typical interest rates and loan terms. Assuming a 30-year fixed-rate mortgage at an average rate of 5%, the monthly payment on a $151,636 home would be approximately $800. This means that the FMR of $920 would indeed cover the mortgage payment, leaving a buffer of around $120 per month. However, it's important to note that this does not account for property taxes, insurance, maintenance costs, and other expenses associated with property ownership.
Objection 2: Is there enough renter demand at 22.3%?
The rental vacancy rate of 22.3% suggests that there is a moderate level of demand in the area. While a lower vacancy rate would indicate higher demand, a 22.3% rate still leaves room for successful tenancy. It's worth noting that the demand for affordable housing can be quite steady, even in areas with higher vacancy rates. The key here is to understand the local market dynamics, such as employment trends and population stability, which can influence the actual demand for Section 8 rentals. Unfortunately, the provided data does not include these specifics.
Objection 3: Will vouchers keep pace with $905 market rents?
The market rent of $905 is slightly above the FMR of $920, indicating that voucher payments might not fully cover the market rent. However, the Section 8 program allows for some flexibility in rent amounts, often up to 40% of the FMR, depending on the size of the unit and local conditions. In ZIP 44905, landlords could potentially charge a rent closer to the market rate, with tenants paying the difference out-of-pocket. Whether vouchers will keep pace with increasing market rents depends on HUD's adjustments to the FMR based on inflation and housing cost increases. The data does not provide a forecast for future FMR adjustments.
In conclusion, while the FMR of $920 is sufficient to cover the mortgage on a $151,636 home, investors should be aware of additional costs. The rental vacancy rate of 22.3% suggests a moderate demand, but further analysis of local economic factors is recommended. Lastly, although vouchers may not fully cover the current market rent of $905, landlords have options to adjust their rental charges within program guidelines. Investors must remain vigilant about potential changes in FMR and market conditions.
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.