Location: Shelby County, OH | Metro: Shelby County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The ZIP code 45353 presents a unique challenge for landlords and small-portfolio investors interested in Section 8 tenants. With a total population of 242, only 9.8% are renters, indicating that this is primarily a homeowner-dominated area. The scarcity of renters means that there is likely less demand for rental properties overall, and consequently, fewer tenants using housing vouchers.
The median household income in ZIP 45353 stands at $101,736, which is notably high. However, due to the lack of specific market rent data, we cannot directly calculate the percentage of local income that goes towards typical rent. Despite this limitation, it's reasonable to infer that given the high median income, the average rent would likely be higher than the Fair Market Rent (FMR) of $1,020, which is set for FY 2026 for the metro area. This suggests that typical rents in 45353 may exceed the FMR, making it difficult for Section 8 tenants to find suitable housing without additional subsidies.
The kind of tenant profile a landlord in ZIP 45353 should expect is one where Section 8 vouchers are not as prevalent due to the low percentage of renters. Tenants here will likely need to supplement their vouchers with personal funds, or landlords may need to adjust their expectations for rental income if they wish to attract Section 8 tenants. Given the homeowner-dominated nature of the area, landlords might also consider diversifying their tenant pool beyond those relying solely on housing vouchers.
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.