Section 8 Fair Market Rent (FMR) for ZIP 45859 - 2027

Location: Hardin County, OH | Metro: Hardin County, OH

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$900
2 Bedrooms	$1,030
3 Bedrooms	$1,320
4 Bedrooms	$1,490
5 Bedrooms	$1,728
6 Bedrooms	$1,935
7 Bedrooms	$2,090
8 Bedrooms	$2,195

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

384

Median Household Income

$51,250

Housing Units

201

Renter Percentage

15.4%

Occupancy Rate

90.5%

Renter Occupied

A landlord considering ZIP 45859 for Section 8 investments must follow a structured decision-making process. The first step involves evaluating if the Fair Market Rent (FMR) of $1,020 for the metro area in fiscal year 2026 can cover the debt service on a property valued at $96,093. Debt service includes mortgage payments and any other financing costs.

If the answer to the first question is yes, proceed to the second step: comparing the market rent of $775, as reported by the Census ACS, to the FMR. If the market rent is below the FMR, the landlord has a positive margin when renting to Section 8 tenants, which means they can charge the higher FMR rate. This would be a favorable condition for investment.

Next, assess the rental demand. In ZIP 45859, 15.4% of residents are renters. However, the data does not provide days on the market (DOM), making it difficult to gauge the speed at which properties are rented. If the percentage of renters is considered sufficient, and there is a high turnover rate indicating strong demand, then this could support a positive investment decision.

The decision tree branches as follows:

Yes: If the FMR of $1,020 covers the debt service on a $96,093 property, and market rent of $775 is significantly lower, this indicates a profitable opportunity. Additionally, if the rental percentage is deemed adequate without needing a fast turnover, invest.
No: If the FMR does not sufficiently cover the debt service, or if market rent is close to or exceeds the FMR, the investment becomes less attractive. Similarly, if the rental percentage is low or the lack of DOM data suggests weak demand, avoid investing.
It Depends: If the FMR marginally covers the debt service, or if the difference between market rent and FMR is minimal, the decision hinges on the rental demand. With only the rental percentage known, and it being 15.4%, the decision to invest would depend on additional factors such as local economic conditions, property management costs, and the potential for rent increases.

In summary, for ZIP 45859, a landlord should consider the financial viability of the property based on the FMR and market rent, alongside the sufficiency of rental demand. Without a definitive days on the market figure, the analysis leans towards a cautious approach, recommending further investigation into local market specifics before making an investment decision.

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.