Section 8 Fair Market Rent (FMR) for ZIP 45648 - 2027

Investment Score for ZIP 45648

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

A skeptical investor might raise several concerns regarding ZIP 45648 (Lucasville, OH). Here are the key objections and their corresponding answers based on the available data:

• Will Fair Market Rent (FMR) of $1,010 (metro FY 2026) cover the mortgage on a $171,181 home? The FMR of $1,010 is slightly higher than the average monthly rent of $909 in Lucasville, OH. However, whether this amount will cover the mortgage depends on the interest rate and down payment. With a current 30-year fixed mortgage rate of 6.30%, a 20% down payment would result in a monthly principal and interest payment of approximately $1,010. This means that the FMR is just sufficient to cover the mortgage, assuming no additional expenses such as property taxes, insurance, and maintenance.
• Is there enough renter demand at 23.1%? The percentage of renters in Lucasville, OH is 23.1%, which is relatively low compared to the national average. While this figure alone may not indicate a strong rental market, it's important to consider the broader context. The area has a strong rental backup scenario, meaning you could potentially rent out the property for $909/month if needed. Additionally, the presence of a 2BR property with a 6.3% cap rate suggests that there is still demand for rental properties, albeit not at a premium level.
• Will vouchers keep pace with $909 market rents? The Housing Choice Voucher program typically covers a portion of the market rent. In ZIP 45648, the voucher amount is $813, which is lower than the average market rent of $909. Landlords who rely solely on vouchers may face challenges covering their costs, especially when factoring in maintenance and other expenses. However, the market is showing steady appreciation with a 5-year Compound Annual Growth Rate (CAGR) of +6.3%, indicating that while voucher amounts may lag behind market rents, the overall value of the property is increasing.

The data indicates that ZIP 45648 presents a mixed scenario for investors. While the rental market is not robust, it is stable enough to support modest cash flow. The appreciation trend is positive, but the gap between voucher amounts and market rents requires careful consideration. Experienced investors who understand the nuances of operating in a soft market can still achieve significant returns here.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.