Location: Hardin County, OH | Metro: Hancock County, OH
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 | $1,070 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $199,573 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 45836 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, as the market rent stands at $814, which is notably lower than the Fair Market Rent (FMR) of $1,010 for the metro area in fiscal year 2026. This discrepancy suggests that tenants who can afford the higher FMR might be less inclined to remain in a property renting below that rate, leading to frequent turnover and associated costs.
Vacancy exposure is another critical issue. With the days on market (DOM) being listed as N/A, it's unclear how long properties typically remain vacant before securing a tenant. However, the absence of this data implies potential difficulties in filling vacancies quickly, especially in a competitive rental market where other properties may offer better conditions or amenities.
Deferred maintenance is a substantial risk factor, given the typical home value of $167,654 and a median income of $56,250. The disparity between home values and median incomes indicates that many residents might struggle to afford significant repairs or upgrades. Landlords should be prepared for higher maintenance costs, as tenants receiving Section 8 assistance often have limited funds available for such expenses.
Despite these risks, the high renter share of 18.8% in ZIP 45836 provides a counterbalance. High renter density typically translates into greater demand for housing vouchers, making it easier to find qualified tenants willing to use Section 8 assistance. This robust demand can help mitigate the risks associated with vacancy and turnover, as landlords are likely to have a steady pool of interested applicants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.