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 | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,340 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $208,022 | 0.5% | F |
| 3BR | $1,340 | $275,533 | 0.49% | F |
| 4BR | $1,530 | $324,736 | 0.47% | F |
U.S. Census Bureau data (2024)
ZIP 45817, located in Bluffton, OH within the Putnam County, OH metro area, serves as an ideal cash-flow anchor for a Section 8 portfolio strategy. The Federal Market Rent (FMR) for a unit costing $950 in fiscal year 2024 significantly exceeds the local market rent of $795. This spread ensures that landlords can maintain positive cash flow even when dealing with the potential delays in payment that come with government programs.
The median home value in ZIP 45817 stands at $269,795, which provides a stable base for investment. Landlords can expect consistent returns due to the high FMR compared to the market rent, making it a reliable part of their portfolio. Additionally, the low risk associated with this ZIP code allows investors to focus on other parts of their investment strategy without worrying about the financial stability of this particular asset.
While ZIP 45817 does not offer significant opportunities for appreciation, as indicated by the N/A% price-cut share and N/A-day days on market (DOM), it excels as a cash-flow anchor. The primary benefit here is the guaranteed income stream that comes with the higher FMR rates, which can offset any appreciation shortcomings in other areas of the portfolio.
The renter share in this ZIP code is 24.1%, and the median income is $76,848. These figures suggest a moderate level of demand for rental properties and a reasonable income level among residents, ensuring that there will be tenants capable of meeting the required rent payments. However, these factors do not make ZIP 45817 a standout choice for appreciation or diversification within a Section 8 portfolio strategy.
In summary, ZIP 45817 is best suited as a cash-flow anchor within a Section 8 portfolio. Its strong FMR rates provide a secure income source, while the stable median home value offers a solid foundation for long-term investment. Landlords should prioritize this ZIP code for units where they seek steady, predictable returns rather than rapid appreciation or high-risk diversification plays.
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.