Location: Shelby County, OH | Metro: Auglaize 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 | $810 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $288,657 | 0.51% | F |
| 4BR | $1,510 | $352,030 | 0.43% | F |
U.S. Census Bureau data (2024)
The Section 8 housing analysis for ZIP code 45306 reveals a significant opportunity for landlords and small-portfolio investors due to the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,050, while the current market rent, as reported by the Census ACS, stands at $927. This creates a gap of $123, or approximately 13%, in favor of the FMR.
This scenario makes ZIP 45306 a prime location for a yield play. Landlords can benefit from the higher guaranteed FMR payments, which are typically more stable and consistent than open-market rents. Given that only 20.0% of residents are renters, there is less competition for rental properties, making it easier to attract and retain voucher tenants. Additionally, the median home value of $276,102 and median income of $86,354 suggest that homeownership is relatively expensive, further incentivizing potential renters to seek out Section 8 options.
The higher FMR compared to the market rent also means that landlords can potentially offer slightly below FMR rates to attract tenants without sacrificing profitability. This flexibility allows them to compete effectively with non-voucher rentals priced at $927, while still benefiting from the higher subsidy levels. For investors managing a portfolio, this could translate into a steady stream of income with fewer vacancies, as voucher tenants are less likely to be affected by economic fluctuations.
In conclusion, the gap between the FMR and market rent in ZIP 45306 presents a clear advantage for landlords who can leverage the stability and higher payment levels of Section 8 vouchers. This makes it an attractive investment opportunity, especially considering the local context of limited rental competition and high homeowner costs.
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.