Location: Putnam County, OH | Metro: Lima, OH MSA
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 | $930 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $70,585 | 1.33% | A |
| 2BR | $1,230 | $148,620 | 0.83% | C |
| 3BR | $1,480 | $265,776 | 0.56% | F |
| 4BR | $1,640 | $319,626 | 0.51% | F |
| 5BR | $1,902 | $385,015 | 0.49% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 45807, Ohio, stands at $70,725. Given the market rate of $972 per month for rent, it becomes evident that a significant portion of the income—approximately 17%—is allocated towards housing expenses. This percentage aligns closely with the general guideline that housing costs should not exceed 30% of a household’s income for financial stability.
Comparatively, the Fair Market Rent (FMR) for the zip code as of fiscal year 2024 is set at $1020. This means that the voucher payment standard is slightly higher than the current market rate, suggesting that voucher recipients might have an easier time finding housing within their budget. However, it also indicates that landlords accepting vouchers could face a minor reduction in rental income compared to market rates.
With only 17.4% of the 11,774 population being renters, the competition among landlords is relatively low. The affordability gap, however, is a critical factor. Households earning the median income would find the market rate of $972 to be challenging but manageable. Accepting a voucher at $1020 could provide a buffer against potential renter defaults and offer a more stable income source.
The takeaway for landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants is clear. While the market rate is lower than the voucher payment, the limited number of renters and the challenge of affording housing at market rates suggest that voucher acceptance can be a viable strategy. It ensures a steady stream of income and reduces the risk of unpaid rent, making it a prudent choice for landlords looking to secure long-term tenancy.
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.