Location: Van Wert 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 | $830 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $136,782 | 0.79% | D |
| 3BR | $1,320 | $218,455 | 0.6% | D |
| 4BR | $1,450 | $233,448 | 0.62% | D |
| 5BR | $1,682 | $262,989 | 0.64% | D |
U.S. Census Bureau data (2024)
The median income in ZIP 45833, which encompasses Delphos, Ohio, stands at $65,000. This figure is crucial when evaluating the affordability of housing for local residents. The Census ACS reports the market rate rent for the area at $827 per month. Given the typical rent-to-income ratio of 30%, a household earning the median income should spend approximately $1,950 monthly on housing. However, the actual market rate of $827 is significantly lower than this benchmark, suggesting that market-rate rents are generally affordable for most households.
When considering the Federal Market Rent (FMR) standard for Housing Choice Vouchers, which is set at $940 for fiscal year 2024, the situation changes. This amount exceeds the average market rate by $113, indicating that voucher holders could potentially access a wider range of rental properties. In an area where only 22.5% of the population are renters, and the total population is 10,919, the competition among landlords for tenants is relatively low. This means that landlords can afford to be selective about their tenant mix and the types of rental assistance they accept.
The affordability gap between the market rate and the voucher payment highlights an opportunity for landlords. While market-rate rents are lower, accepting vouchers allows landlords to tap into a larger pool of potential tenants, including those who might otherwise struggle to afford even the modest market rates. For landlords considering their strategy, the choice between voucher and cash-pay tenants hinges on the balance between securing steady rental income and managing the administrative aspects of working with the voucher program.
Takeaway: Landlords in ZIP 45833 have the flexibility to choose between voucher and cash-paying tenants. Given the higher FMR compared to the market rate, voucher tenants can offer a competitive advantage in securing stable income without significantly increasing the cost burden on tenants. However, landlords must weigh the benefits against the administrative requirements of participating in the voucher program.
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.