Location: Putnam County, OH | Metro: Putnam County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 45848 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, especially when comparing the non-disclosed market rent to the Fair Market Rent (FMR) of $1,010 for FY 2026, which is set based on the metro area. This discrepancy can lead to higher-than-average churn rates, impacting cash flow stability.
Vacancy exposure is another risk factor. With a non-disclosed number of days on the market (DOM), it's difficult to predict how long properties might remain vacant. A prolonged vacancy period can significantly reduce potential rental income and increase the financial burden on landlords.
The deferred maintenance exposure is also notable. Given the non-disclosed typical home value and a median income of $77,813, landlords must be prepared for the possibility that tenants may not have the financial means to address property upkeep issues promptly. This could result in higher maintenance costs for landlords over time.
However, these risks are somewhat mitigated by the high renter density in the area. The 7.0% renter share indicates a robust market for rental properties, typically correlating with a higher demand for housing vouchers. This suggests that there will likely be a steady pool of potential Section 8 tenants who are willing and able to pay the stipulated rent.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter density makes ZIP 45848 a moderate risk for a first-time Section 8 landlord.
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.