Location: Washington County, OH | Metro: Washington 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 | $820 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,370 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $272,837 | 0.5% | F |
U.S. Census Bureau data (2024)
The potential risks for landlords investing in ZIP code 45729 through the Section 8 program are significant and must be carefully considered. Tenant turnover is a critical issue, especially when comparing the local market rent to the Fair Market Rent (FMR) of $980 set for fiscal year 2026. While the market rent figure is not available, it's likely lower than the FMR, which can attract tenants who might move frequently once they find more affordable housing options.
Vacancy exposure is another concern. The Days on Market (DOM) for properties in this area is not specified, but typically higher DOM values indicate a slower rental market. This can lead to extended periods of vacancy, during which the landlord incurs costs without receiving rental income. In ZIP 45729, landlords should expect that even with the stability offered by Section 8 vouchers, there will still be some level of vacancy risk.
Deferred maintenance is a common issue among Section 8 properties due to limited funds for upkeep. Given the typical home value of $253,834 and the median household income of $82,110, landlords may face financial strain to maintain their properties adequately. The disparity between property values and income levels suggests that tenants might have less disposable income for repairs, increasing the burden on landlords to keep up with necessary maintenance.
However, these risks are somewhat mitigated by the fact that 1.6% of the population are renters, which is relatively high. High renter density generally translates into higher demand for rental properties, including those that accept Section 8 vouchers. This increased demand can help landlords fill vacancies faster and potentially reduce the impact of tenant turnover.
Despite the challenges, the high renter density in ZIP 45729 supports a stable tenant pool, which can be beneficial for landlords willing to manage the program effectively. The key to success lies in understanding the requirements and limitations of the Section 8 program while being prepared to handle the financial and maintenance aspects associated with it.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.