Location: Shelby County, OH | Metro: Lima, 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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $178,413 | 0.6% | F |
| 3BR | $1,480 | $263,453 | 0.56% | F |
| 4BR | $1,690 | $320,712 | 0.53% | F |
| 5BR | $1,960 | $366,996 | 0.53% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 45895, located in Wapakoneta, OH, within the Auglaize County and Shelby County metro area, reveals a favorable environment for those seeking stable rental income. The HUD Fair Market Rent (FMR) for ZIP 45895 is set at $950 for fiscal year 2024, while the Census American Community Survey (ACS) reports an average market rent of $871. This indicates that voucher tenants will cashflow positively at the FMR rate, providing landlords with a reliable source of income.
To further understand the investment potential, consider the median home value of $236,175. The rent-to-price ratio, calculated using the HUD FMR, is approximately 0.4%. This ratio suggests that properties in this area are relatively undervalued compared to the rental income they can generate, making it an attractive market for real estate investors looking to maximize their returns.
The dynamics between renting and buying in ZIP 45895 also favor investors. With a median Days on Market (DOM) of N/A and a price-cut share of 0.1%, it's evident that the housing market is stable, with few homes needing to be discounted to sell. This stability reduces the risk of property value depreciation and ensures that rental properties remain competitive against owner-occupied homes.
In conclusion, the strongest investor angle in ZIP 45895 is cashflow. The positive difference between the HUD FMR and the actual market rent, combined with the undervalued nature of the local housing market, provides a solid foundation for generating consistent and reliable rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.