Location: Scioto County, OH | Metro: Scioto County, OH
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $141,919 | 0.73% | D |
| 3BR | $1,400 | $213,647 | 0.66% | D |
| 4BR | $1,550 | $301,745 | 0.51% | F |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 45694, centered around Wheelersburg, OH, reveals a significant opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,070, while the actual market rent based on Census ACS data stands at $758. This means that the gap between FMR and market rent is $312, or approximately 41%, favoring the landlord.
This gap makes Wheelersburg an attractive location for a yield play strategy. Landlords can leverage the higher FMR rate to secure rental income that exceeds the local market rate, thus increasing their profitability. By accepting Section 8 tenants, landlords can benefit from a stable and government-backed source of income, which is particularly advantageous given the local economic conditions. With a median income of $59,876 and only 26.3% of residents renting, the demand for affordable housing is high, making it likely that these vouchers will be utilized efficiently.
In Wheelersburg, where the median home value is $192,921, the discrepancy between FMR and market rent suggests that there is a substantial incentive for landlords to participate in the Section 8 program. The higher FMR rate compensates for the potential administrative overhead and ensures that landlords receive a rent amount that is above the average market price, thereby enhancing the overall yield on their investment properties.
However, it's important to note that the cost of housing voucher tenants below open-market rates can be minimal when compared to the benefits. The stability and security of rental payments provided by the Section 8 program often outweigh any initial concerns about lower-than-market rents. Additionally, the government subsidy covers the difference between the tenant's contribution and the FMR, ensuring that landlords receive the full $1,070 per month, even if the market rate is lower.
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.