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 | $920 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $183,197 | 0.62% | D |
| 3BR | $1,530 | $267,154 | 0.57% | F |
| 4BR | $1,710 | $346,227 | 0.49% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 45784, located in Vincent, OH within the Washington County, OH metro area, reveals several key points for landlords and small-portfolio investors.
First, let's examine if the rent math works. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970. However, the current market rent based on Census ACS data stands at $808. This indicates that the actual market rent is below the FMR, suggesting a potential gap where landlords could increase rents to align closer with the FMR without significantly impacting tenant demand. Yet, it also means that landlords must be cautious about pricing to remain competitive and attractive to tenants.
Regarding the affordability of acquisitions, the median home value in ZIP 45784 is $243,170. With no data available on the average days on market (DOM) or the percentage of homes that have been listed with a price cut, it's challenging to provide a definitive assessment on how quickly homes sell or the typical discount applied. Nonetheless, the median home value suggests that properties are relatively affordable, which could be appealing to investors looking to enter the market without a large capital outlay.
Lastly, we consider the tenant demand. The population of ZIP 45784 is 3,022, with 10.5% of residents being renters. This relatively low renter share implies that the pool of potential tenants is limited, and landlords should expect competition among themselves for rental units. It's important to note that a smaller tenant base can make occupancy management more challenging.
Verdict: While the current market rent is lower than the FMR, providing an opportunity to adjust upward, the limited tenant demand and the lack of detailed sales data introduce risks. The median home value makes acquisitions feasible, but investors must be prepared to compete for tenants and possibly adjust their expectations regarding occupancy rates and rental income stability.
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.