Location: Putnam County, OH | Metro: Putnam County, OH
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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $228,405 | 0.45% | F |
| 3BR | $1,230 | $315,151 | 0.39% | F |
| 4BR | $1,370 | $365,801 | 0.37% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 45875, centered around Ottawa, OH, highlights a significant financial opportunity for landlords and small-portfolio investors. The disparity between the Fair Market Rent (FMR) set at $1,010 for the metro area in fiscal year 2026 and the actual market rent of $772, as reported by the Census Bureau's American Community Survey, presents a notable gap of $238 per month. This represents a 31% difference, favoring the higher FMR rate.
The gap underscores that voucher tenants can provide a yield play for property owners in Ottawa, OH. With the FMR exceeding the market rent, landlords can secure a guaranteed income stream from the government at a rate above what the local market currently offers. This scenario is particularly beneficial given the local context: Ottawa has a relatively low rental population of 14.1%, suggesting there is room for growth without saturating the market. Additionally, the median home value stands at $276,369, indicating a stable residential market where property values are likely to hold steady or increase over time.
The median income in Ottawa, OH, is $93,144, which supports the argument that Section 8 vouchers can act as a stabilizing force in the rental market. Given the economic conditions, many residents may find it challenging to afford market rents without assistance. Therefore, accepting Section 8 tenants can ensure a consistent, reliable source of rental income that is pegged to the FMR rather than fluctuating with the open market.
In conclusion, the gap between the FMR and market rent in ZIP 45875 presents a clear advantage for landlords who can leverage the higher FMR rates offered through Section 8 vouchers. This strategy can help maximize yields while providing affordable housing options in a community where such support is needed.
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.