Location: Hardin 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 | $950 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $119,874 | 0.91% | C |
| 3BR | $1,400 | $189,735 | 0.74% | D |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 45812, which encompasses Alger, OH, and parts of Hardin County, reveals a tight rental market where the Federal Market Rent (FMR) set by HUD at $860 for fiscal year 2024 closely aligns with the average market rent of $886 based on Census ACS data. This suggests that voucher tenants can generally cover the cost of housing at the FMR rate, leading to stable cashflows for landlords and small-portfolio investors.
To derive the rent-to-price ratio, consider the median home value of $158,888 in the area. The annual rent of $886 translates to an approximate monthly rent of $73.83 when compared to the median home value. This yields a rent-to-price ratio of about 0.05%, indicating that rental income alone is not sufficient to justify purchasing properties at the median home value. However, the low rent-to-price ratio can be seen as a positive sign for long-term investment stability, as it implies that property values are not heavily dependent on rental income.
Despite the lack of specific data on days on market (DOM) and the percentage of price cuts, the strong alignment between the HUD FMR and the market rent suggests that the local rental market is robust and less prone to significant fluctuations. This stability is further supported by the fact that voucher tenants can cover the majority of the market rent, making the area attractive for those seeking consistent cashflow.
The strongest angle for investors in ZIP 45812 is stability. Given the close match between the HUD FMR and market rents, along with the robustness of the local rental market, investors can expect steady and predictable returns without the need for aggressive price adjustments or significant changes in tenant mix.
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.