Location: Putnam County, OH | Metro: Putnam County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 45864 focuses on the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for the area, set at $1,110 for fiscal year 2026, serves as a benchmark for rental costs covered under the Section 8 program. However, the current market rent in the area is not available, which means that landlords must rely on the FMR to determine their rental income from voucher tenants.
Given the lack of current market rent data, we can infer that if the FMR is higher than the actual market rent, it makes ZIP 45864 a favorable location for landlords seeking a yield play. Voucher tenants would effectively subsidize rents at a level above what the open market might bear, thus providing a steady and potentially higher income stream compared to non-subsidized tenants.
If the FMR were to be lower than the market rent, the situation would present a different challenge. Landlords would have to absorb the difference between the FMR and the market rent, which could result in a financial loss or reduced profit margins. This scenario highlights the cost of accepting housing voucher tenants, as they may pay less than the prevailing market rate, making it crucial for landlords to consider the overall financial impact before participating in the Section 8 program.
The context of ZIP 45864 shows that renters account for 12.4% of the population, with a median household income of $81,875. The median home value is not specified, which suggests a focus on the rental sector rather than homeownership. With an FMR of $1,110, landlords should be aware of the potential gap in rental pricing and the implications it has on their investment strategy. If the FMR exceeds the market rent, it can be a lucrative opportunity; conversely, if it falls short, landlords need to carefully weigh the benefits against the financial risks.
To illustrate the gap in dollars and percentage, we would typically calculate the difference between the FMR and the market rent. Since the market rent is not available, we cannot provide a precise percentage. However, the principle remains clear: the gap between these two figures will determine whether the Section 8 program enhances or diminishes the profitability of rental properties in ZIP 45864.
Summary:
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.