Section 8 Fair Market Rent (FMR) for ZIP 45629 - 2027

Location: Scioto County, OH | Metro: Huntington-Ashland, WV-KY-OH HUD Metro FMR Area

Investment Score for ZIP 45629

Monthly Rent (2BR)

$1,020

Median Price (2BR)

$139,456

1% Rule

0.73%

Annual Yield

8.78%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$850
2 Bedrooms	$1,020
3 Bedrooms	$1,350
4 Bedrooms	$1,480
5 Bedrooms	$1,717
6 Bedrooms	$1,923
7 Bedrooms	$2,077
8 Bedrooms	$2,181

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,020	$139,456	0.73%	D
3BR	$1,350	$201,646	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,055

Median Household Income

$60,592

Housing Units

1,302

Renter Percentage

14.0%

Occupancy Rate

89.2%

Renter Occupied

162

When considering whether to invest in ZIP 45629 (Franklin Furnace, OH) for Section 8 properties, follow these steps:

Does FMR ($1,000) clear debt service on a $172,513 property?
- No. The Fair Market Rent (FMR) of $1,000 is insufficient to cover the debt service on a property valued at $172,513, given typical mortgage rates and property tax costs.
Is market rent ($723) above, at, or below FMR?
- Below. The market rent of $723 is below the FMR of $1,000, indicating that Section 8 tenants would likely pay more than the average market rent.
Are 14.0% renters + N/A-day DOM enough demand?
- It depends. While the percentage of renters is relatively low at 14.0%, the vacancy rate of 16.1% suggests there might be enough demand for Section 8 properties. However, the lack of specific data on days on market (DOM) makes it difficult to assess the speed at which properties are rented.

The median home value in Franklin Furnace is $166,950, while the average monthly rent is $900. This indicates a market where the potential for positive cash flow exists, especially when considering the higher FMR compared to market rent. However, the high vacancy rate and the low percentage of renters suggest caution is necessary.

In conclusion, ZIP 45629 offers a mixed opportunity for Section 8 investment. The FMR does not fully support the debt service on a $172,513 property, but it exceeds the market rent, which could attract more tenants. The demand for rental properties appears to be present, though the specifics are somewhat unclear due to missing data points. Careful analysis and local market knowledge are essential before making an investment decision.

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.