Location: Hancock County, OH | Metro: Toledo, 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 | $800 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $122,431 | 0.91% | C |
| 3BR | $1,420 | $169,403 | 0.84% | C |
| 4BR | $1,530 | $199,032 | 0.77% | D |
U.S. Census Bureau data (2024)
20.9% of residents in ZIP 45872, North Baltimore, OH, are renters, indicating a notable demand for rental properties. The Fair Market Rent (FMR) for Section 8 in this area is set at $950 for zip FY 2024, which is higher than the average market rent of $780 reported by the Census ACS. This suggests that landlords could potentially benefit from participating in the Section 8 program, as it offers rents closer to the fair market rate. The median income in the area stands at $62,298, providing insight into the economic profile of the residents and their ability to afford housing. Despite the median home value being relatively low at $129,423, the disparity between market rent and FMR highlights the potential profitability for landlords who can manage properties effectively within the guidelines of the Section 8 program. The lack of available data on days on market (DOM) and the percentage of price-cut shares does not provide a complete picture of the local real estate market's dynamics but underscores the importance of understanding other factors such as tenant stability and long-term occupancy rates. Given the higher FMR compared to market rent and the significant portion of renters in the community, ZIP 45872 presents a favorable environment for landlords and small-portfolio investors interested in Section 8 participation.
Section 8 Verdict: Favorable for landlords due to higher FMRs compared to market rents and a substantial renter population.
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.