Location: Scioto County, OH | Metro: Scioto County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The real estate market in ZIP 45677 presents a unique set of conditions that both challenge and offer opportunities for landlords and small-portfolio investors. The median home value data is currently unavailable, which can be a significant limitation when assessing the overall health and trends of the housing market. However, the fact that a notable percentage of listings have been reduced indicates a potential shift towards a buyer's market, where sellers might need to lower their asking prices to attract buyers.
The median days on market (DOM) also stands at an unspecified number, which typically reflects the speed at which homes are selling. A higher DOM could suggest that homes are taking longer to sell, indicating a slowdown in the market and potentially less pricing power for sellers. This trend aligns with the reduction in listing prices, suggesting that there may be downward pressure on home values in the near term.
On the rental side, the Fair Market Rent (FMR) for ZIP 45677 is projected to be $1,030 for the fiscal year 2026. While the current market rent data is also unavailable, the FMR projection provides insight into what the government deems a reasonable rent amount for the area. If the current market rents are below this figure, it could indicate an opportunity for landlords to gradually increase rents without significantly impacting occupancy rates. Conversely, if current rents already exceed the FMR, it might suggest that rents are high relative to the average income levels, which could affect demand and tenant retention.
For long-hold investors, the setup implied by the data suggests a cautious approach. With the possibility of downward pressure on home values and the uncertain relationship between current rents and the FMR, the appreciation thesis in ZIP 45677 is unclear. Investors should focus on maintaining stable cash flows through consistent rental income rather than relying on rapid capital appreciation. It's advisable to monitor local economic indicators and housing trends closely to make informed decisions about future investments and property management strategies.
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.