Location: Auglaize County, OH | Metro: Auglaize County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 45888 is based on the disparity between the Fair Market Rent (FMR) and the actual market rent. Unfortunately, the current market rent data for this area is unavailable, which makes it challenging to provide a direct comparison. However, the FMR for the metro area in fiscal year 2026 is set at $1,030. This figure represents the maximum amount that the government will pay for rental units under the Section 8 program.
In ZIP 45888, the median household income stands at $88,237, indicating a relatively affluent community. Despite this, only 0.0% of residents are renters, suggesting that the housing market here is predominantly composed of homeowners. The median home value in this area is also listed as N/A, which could imply that there's a lack of recent sales data or a very low volume of transactions.
Given the absence of market rent data, we cannot calculate the exact gap in dollars or percentage between the FMR and the market rent. However, if the FMR were higher than the market rent, landlords accepting Section 8 vouchers would effectively be participating in a yield play. They would be receiving a higher guaranteed rent through the voucher program than they might from non-subsidized tenants, thereby securing a stable and potentially above-average income stream relative to the local rental market.
If the FMR were lower than the market rent, landlords would face the cost of housing voucher tenants below the open-market rates. This scenario would mean that landlords accept a lower rent payment for their properties, which can be seen as a trade-off for the stability and security of the government-backed payments. In such a case, the lower FMR could result in reduced profit margins for landlords who rely solely on the voucher subsidy without additional private tenant contributions.
The decision to participate in the Section 8 program should be carefully considered against the backdrop of the local economic conditions. With a high median income and a very low percentage of renters, landlords must weigh the benefits of guaranteed rental income against the potential drawbacks of lower rents compared to what might be achievable in an active and competitive rental market. The analysis underscores the importance of understanding both the financial parameters and the unique characteristics of the ZIP 45888 real estate landscape before making investment decisions.
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.