Section 8 Fair Market Rent (FMR) for ZIP 45658 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 45658

• Gallia Metropolitan Housing Authority (Bidwell, OH) - 188 Section 8 vouchers
• Ironton Metropolitan Housing Authority (Ironton, OH) - 88 Section 8 vouchers

The ZIP code 45658, located in Patriot, OH, is a suburban area characterized by its quiet neighborhoods and proximity to larger urban centers, offering residents a mix of rural charm and convenient access to city amenities. This region presents a unique investment opportunity for landlords and small-portfolio investors due to its specific economic conditions and housing market dynamics.

• Fair Market Rent (FMR) for ZIP 45658 in fiscal year 2024: The FMR for a two-bedroom apartment is set at $930, providing a benchmark for rental pricing that reflects the local cost of living and housing market trends.
• Market Rent: Data on current market rents is not available, which suggests that the area might be underserved or less competitive, potentially allowing for more flexibility in setting rental prices.
• Median Home Value: At $188,059, the median home value in Patriot, OH, indicates a relatively affordable market for property acquisition, suitable for investors looking to enter without high initial capital outlay.
• Renter Share: Only 2.2% of households in the area are renters, highlighting a predominantly owner-occupied community. This low percentage may limit the immediate demand for rental properties but also suggests potential for growth if the trend shifts towards renting.
• Median Income: The median household income of $64,162 provides insight into the financial capacity of residents, suggesting a stable but modest earning base that could influence rental affordability and demand.

Synthesizing these points, ZIP 45658 presents a niche investment scenario. With a fair market rent benchmarked at $930 for a two-bedroom unit and a median home value of $188,059, the area offers a balance between affordable property acquisition and reasonable rental yields. However, the low renter share of 2.2% implies a need for strategic positioning to attract tenants, possibly through targeted marketing or by focusing on first-time renters or families seeking more affordable options. The lack of current market rent data and the modest median income indicate a careful approach to pricing and tenant selection to ensure steady occupancy and returns. Overall, while the immediate rental market is limited, the potential for growth and stability makes it a viable option for cautious investors willing to adapt to the local market's unique characteristics.

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.