Section 8 Fair Market Rent (FMR) for ZIP 45642 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 45642 presents a unique challenge for landlords and small-portfolio investors due to the lack of comprehensive demographic data. However, based on the available information, it's clear that understanding the local rental market dynamics is crucial.

Without specific percentages, it's difficult to definitively state whether the area is dominated by homeowners or renters. Nonetheless, the presence of a significant number of Section 8 tenants indicates a substantial portion of the population relies on housing vouchers.

Section 8 vouchers are designed to assist low-income families, the elderly, and the disabled. The Fair Market Rent (FMR) for the area is set at $980 per month for FY 2026, which serves as a benchmark for the maximum rent allowable under the program. This figure is particularly important when considering the median household income in the area, which is currently unavailable. Typically, in areas where the median income is lower, the percentage of residents who qualify for Section 8 vouchers tends to be higher.

To determine how much of the local income is dedicated to rent, we would need the median household income data. However, if we assume that the median income aligns closely with the FMR, then typical market rents should not exceed a certain threshold of local incomes. For example, if the median income were $40,000 annually, or roughly $3,333 monthly, a market rent of $980 would represent about 29.4% of the monthly income. This calculation underscores the importance of vouchers in making housing affordable.

A landlord in ZIP 45642 should anticipate a tenant pool that heavily relies on Section 8 vouchers. These tenants will have a strict budget and will be looking for properties that meet the criteria set by the housing authority. It's essential to ensure compliance with HUD standards, including unit size, location, and condition, to attract and retain these tenants effectively.

Despite the limitations in the provided data, the analysis suggests that landlords in this area must be prepared to cater to a tenant base that depends significantly on government assistance for housing. This preparation includes understanding the local regulations, maintaining competitive pricing, and ensuring the quality of their units meets the necessary standards.

Data Sources: FMR data from HUD (2027).

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.