Location: Shelby County, OH | Metro: Shelby 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 | $950 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $240,679 | 0.53% | F |
| 3BR | $1,710 | $344,243 | 0.5% | F |
| 4BR | $1,750 | $408,508 | 0.43% | F |
U.S. Census Bureau data (2024)
A skeptical investor might raise several concerns about investing in the ZIP 45302 (Anna, OH) rental market. Here are some key objections and the corresponding data to address them.
Objection 1: Will FMR $1,230 (metro FY 2026) cover the mortgage on a $321,924 home?
The HUD Fair Market Rent (FMR) for ZIP 45302 is set at $1,230 for FY 2026. However, according to recent market data, the average rent for all bedroom types and property types in 45302 is $1,579. This suggests that actual market rents exceed the FMR, potentially allowing investors to charge higher rents to cover mortgage expenses. To ensure coverage, consider using a mortgage calculator with the average rent figure to assess feasibility.
Objection 2: Is there enough renter demand at 15.4%?
The rental market temperature in 45302 is classified as HOT, indicating strong renter demand. Despite the 15.4% renter population, which is relatively low, the current market conditions suggest a competitive environment. With only 5 available rentals listed, there appears to be a scarcity of options, which could drive demand and maintain occupancy levels. However, the data does not provide a complete picture of long-term stability, so further research into local employment trends and population growth may be necessary.
Objection 3: Will vouchers keep pace with $1,107 market rents?
Vouchers are typically adjusted to reflect changes in the local housing market. While the voucher amount may not always match the exact market rent, the HUD FMR of $1,230 provides a benchmark that is closer to market rates than the $1,107 suggested. This indicates that vouchers are likely to cover a significant portion of the rent, making it viable for investors to accept them. However, it's important to note that voucher recipients often face additional requirements and scrutiny, which could impact the ease of finding suitable tenants.
In conclusion, while there are valid concerns regarding the rental market in ZIP 45302, the data suggests that actual market rents are higher than the FMR, indicating potential profitability. The current market temperature and limited supply of available rentals point towards a favorable demand scenario. Lastly, vouchers are expected to keep pace with market rents, though they may not fully cover them. Further analysis of local economic factors and long-term trends is recommended to ensure sustainable investment returns.
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.