Location: Highland County, OH | Metro: Brown County, OH HUD Metro FMR Area
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 | $770 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $191,680 | 0.52% | F |
| 3BR | $1,280 | $259,374 | 0.49% | F |
| 4BR | $1,530 | $315,317 | 0.49% | F |
U.S. Census Bureau data (2024)
A skeptical investor considering real estate investments in ZIP 45697 (Winchester, OH) might raise several valid concerns based on the available data. Let's address these objections directly.
Objection 1: Will FMR $860 (zip FY 2024) cover the mortgage on a $241,867 home?
The Fair Market Rent (FMR) for ZIP 45697 in fiscal year 2024 is set at $860 per month. To determine if this amount can cover the mortgage on a $241,867 home, we need to calculate the potential monthly mortgage payment. Assuming a typical 30-year fixed-rate mortgage with an interest rate of 5%, the monthly principal and interest payment would be approximately $1,270. This means that the FMR of $860 alone will not cover the mortgage payment. However, it's important to note that additional income streams, such as renting out basements or garages, could help bridge this gap. Furthermore, the FMR does not include other rental income sources such as parking spaces or utilities.
Objection 2: Is there enough renter demand at 19.5%?
The rental vacancy rate in ZIP 45697 stands at 19.5%. This figure suggests that there is a significant number of vacant rental units relative to the total number of rental units in the area. A high vacancy rate could indicate low demand, but it also reflects the supply side of the market. To fully assess the demand, one would need to consider the population growth trends and employment opportunities in Winchester, OH. The data provided does not offer insights into these factors, so while the 19.5% vacancy rate is high, it does not conclusively indicate a lack of demand without further context.
Objection 3: Will vouchers keep pace with $595 market rents?
The average market rent in ZIP 45697 is $595. The Section 8 voucher program aims to ensure that eligible families pay no more than 30% of their adjusted income toward rent. If the program's reimbursement rates do not align closely with the $595 market rent, landlords may face difficulties in covering their costs. The data does not provide specific details on the current voucher reimbursement rates in Winchester, OH, making it challenging to definitively state whether vouchers will keep pace with market rents. It is advisable for investors to research local Section 8 policies and reimbursement rates to make an informed decision.
In summary, while the FMR of $860 alone cannot cover the mortgage on a $241,867 home, supplementary income sources can help. The 19.5% rental vacancy rate raises questions about demand, but requires additional analysis. Lastly, the alignment of Section 8 voucher rates with the $595 market rent remains uncertain without specific policy data.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.