Location: Hardin 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 | $960 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $197,775 | 0.63% | D |
| 3BR | $1,520 | $270,238 | 0.56% | F |
| 4BR | $1,690 | $297,747 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 45850, located in Harrod, OH, has a population of 3,559 residents, with 14.0% of them being renters. The median household income in this area stands at $84,886, which is relatively high compared to national averages. This ZIP code is not heavily dominated by renters; instead, it leans more towards homeownership. However, the presence of renters suggests there is some demand for rental properties.
The market rent for the area is set at $1,129 per month, which represents approximately 15.7% of the median household income. This percentage is calculated by dividing the monthly rent by the annual median income and multiplying by 12. For context, the Fair Market Rent (FMR) for the area, as determined by HUD for FY 2024, is $860. This indicates that the market rent exceeds the FMR by about $269, or 31.3%, suggesting that the rental market in Harrod, OH, is somewhat premium relative to the government's benchmark.
The discrepancy between the market rent and the FMR highlights a challenge for tenants relying on housing vouchers. Vouchers are typically capped at the FMR level, meaning that tenants might struggle to cover the additional $269 needed to meet the market rate. This could limit the number of voucher holders able to afford housing in this ZIP code, making it less attractive for those dependent on subsidies.
A landlord in ZIP 45850 should expect a tenant profile that includes individuals and families who can afford the higher-than-average rents. These tenants would likely be working professionals or families with multiple income sources, capable of paying over 15% of their income towards rent without assistance. While there is a segment of the population that uses housing vouchers, the limited availability due to the higher market rents means that landlords will need to consider alternative options for financial assistance or look beyond voucher holders to find suitable tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.