Location: Pike County, OH | Metro: Pike County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The ZIP code 45646 is situated within a neighborhood characterized by a modest population of 129 residents. With only 8.5% of the population being renters, it suggests a primarily owner-occupied area where the local community values homeownership. The lack of reported median income and median home value data indicates that there might be limited diversity in housing types and economic activities within the area.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $980. This figure stands in contrast to the absence of reported market rent data, which could imply that the rental market in 45646 is either underdeveloped or overshadowed by the strong preference for homeownership among its residents. Without concrete market rent data, it's challenging to assess the profitability of rental properties based on the difference between actual rents charged and the FMR.
Given the characteristics of ZIP 45646, it appears to be better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters suggests that there isn't a large demand for rental properties, making it less likely that active management or improvements would significantly increase occupancy rates or rental income. Moreover, the reliance on Section 8 vouchers could provide a stable tenant base, though the overall number of potential tenants is limited. For a hands-off operator, the predictability of voucher payments can offer a consistent revenue stream with minimal risk associated with vacancy rates or market fluctuations.
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.