Location: Vinton County, OH | Metro: Hocking County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The ZIP code 45622 presents several challenges for potential Section 8 landlords. Firstly, the tenant turnover rate is unknown due to the lack of market rent data, but the Fair Market Rent (FMR) for the fiscal year 2024 is set at $990. This means that landlords must ensure their properties meet the criteria for this rental amount, which can be stringent and require regular maintenance and upgrades.
Vacancy exposure is another concern. The days on market (DOM) for vacant properties is not available, making it difficult to predict how long a property might remain unoccupied. However, with a median income of $48,556, there is likely a significant portion of the population that relies on rental assistance programs like Section 8, which could help mitigate extended vacancy periods.
The deferred maintenance exposure is also uncertain without knowing the typical home value in the area. Landlords need to be prepared to invest in maintaining their properties to a standard that complies with housing quality standards required by the Section 8 program. Failure to do so can result in penalties or loss of participation in the program.
On the other hand, the high renter share of 16.4% indicates a dense rental market, which typically translates into higher demand for rental units, including those that accept Section 8 vouchers. This demand can provide a steady stream of tenants and reduce the risk of prolonged vacancies.
In conclusion, despite the uncertainties around market rent, DOM, and home values, the high renter density in ZIP 45622 suggests a moderate risk for a first-time Section 8 landlord.
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.