Section 8 Fair Market Rent (FMR) for ZIP 45695 - 2027
Location: Vinton County, OH | Metro: Vinton County, OH
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $870 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$50,063
A skeptical investor might raise several concerns regarding investing in ZIP 45695 (Wilkesville, OH). Let's address these concerns with the available data.
- Will Fair Market Rent (FMR) $1,170 (metro FY 2026) cover the mortgage on a home? According to the data from ZIP-Codes.com, the median home value in ZIP 45695 is $104,900. Assuming a typical mortgage rate of 4% and a loan-to-value ratio of 80%, the monthly mortgage payment would be approximately $460. The FMR of $1,170 could easily cover this amount, leaving a significant margin for other expenses such as maintenance and property taxes.
- Is there enough renter demand at 25.5%? The rental demand in ZIP 45695 is relatively low, with only 25.5% of households being renters. However, this percentage translates to about 61 rental units out of 238 total households. While the demand is not high, it still represents a considerable number of potential tenants. Additionally, the low median household income of $42,795 suggests that affordable housing options are in demand, making rental properties viable.
- Will vouchers keep pace with market rents? The data does not provide specific information on voucher usage or the pace at which they adjust to market rents in ZIP 45695. However, given the significant portion of residents receiving public assistance, it is crucial to monitor local housing authority policies and federal guidelines to ensure that vouchers can meet the needs of potential tenants. The current FMR of $1,170 should serve as a benchmark for evaluating voucher adequacy.
Note that some data points are missing, such as the exact percentage of voucher users and the historical trend of voucher adjustments. These details would help in making a more informed decision regarding the sustainability of rental investments in ZIP 45695.
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.