Section 8 Fair Market Rent (FMR) for ZIP 45814 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 45814

• Hancock Metropolitian Housing Authority (Findlay, OH) - 870 Section 8 vouchers

To determine if you should buy in ZIP 45814 (Arlington, OH) for Section 8 investment, follow these steps:

Step 1: Can the Fair Market Rent (FMR) of $970 cover the debt service on a property priced at $235,688?

• Yes: If your debt service is less than $970 per month, then the FMR can support your mortgage payments.
• No: If your debt service exceeds $970 per month, then the FMR cannot cover your mortgage payments. This makes Arlington unsuitable for a Section 8 investment at this price point.
• It Depends: The exact threshold will depend on your specific financing terms. Calculate your monthly debt service and compare it directly to the FMR.

Step 2: How does the market rent of $1,063 compare to the FMR?

• Above FMR: The market rent of $1,063 is higher than the FMR of $970. This indicates that non-Section 8 tenants might be willing to pay more, providing an opportunity for higher returns.
• At or Below FMR: Since the market rent is above the FMR, this scenario does not apply here.

Step 3: Is there sufficient rental demand?

• Yes: With 17.9% of the population being renters, there is a notable demand for rental properties. However, the lack of data on days on market (DOM) means we must rely solely on the percentage of renters. In this case, the percentage suggests that there is enough demand to support rental units.
• No: If the percentage of renters were significantly lower, it would indicate a weak rental market. This is not the case for Arlington.
• It Depends: The strength of the rental market also depends on the DOM data, which is currently unavailable. Without this information, it's difficult to assess how quickly rental units turn over. However, given the 17.9% rental rate, Arlington shows a stable demand for rentals.

Based on the provided data, Arlington, OH (ZIP 45814) appears to be a viable option for Section 8 investment if the FMR of $970 can meet or exceed your debt service requirements. Additionally, the higher market rent of $1,063 offers potential for non-Section 8 tenants. The rental rate of 17.9% supports demand, but the missing DOM data leaves some uncertainty regarding the speed of tenant turnover.

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.