Location: Vinton County, OH | Metro: Vinton County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP code 45698 for Section 8 properties, follow this decision tree based on the provided data:
1) Does the Fair Market Rent (FMR) of $990 for the metro area in fiscal year 2026 cover the debt service on a property?
No data is available regarding the average debt service for properties in ZIP 45698. This makes it impossible to determine if the FMR can cover the costs. To proceed, you must calculate your specific debt service, including mortgage payments, taxes, insurance, and maintenance.
2) Is the market rent above, at, or below the FMR of $990?
The market rent data is not provided. Without this information, you cannot assess how the market compares to the FMR. It's crucial to gather local rental rates to see if they exceed the FMR, which would indicate a potentially profitable opportunity outside of Section 8, or if they are lower, suggesting that Section 8 might be necessary to fill vacancies.
3) Are 3.4% of the residents renters and do they have an average of N/A days on the market (DOM), enough to meet demand?
Only 3.4% of the residents in ZIP 45698 are renters, which is a very low percentage. This indicates a limited pool of potential tenants. The lack of data on the average days on the market (DOM) further complicates the assessment of demand. However, given the low rental rate, it's likely that the competition for tenants is high, making it challenging to fill vacancies quickly.
If the FMR does not cover your debt service, you should not consider purchasing a property in ZIP 45698 for Section 8 purposes. Even if the FMR covers debt service, the low percentage of renters suggests that there may not be sufficient demand to justify investment. If you find that the market rent is significantly higher than the FMR, it could indicate that Section 8 properties might struggle to compete with market-rate rentals, leading to prolonged vacancy periods.
In conclusion, the data suggests that ZIP 45698 presents challenges for Section 8 investments due to the low percentage of renters and the lack of critical financial data such as average debt service and market rent. It depends on your specific financial situation and tolerance for risk, but generally, the answer is no unless you can secure additional information that supports a positive investment decision.
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.