Location: Hardin 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 | $900 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,170 | $154,828 | 0.76% | D |
| 3BR | $1,470 | $247,832 | 0.59% | F |
| 4BR | $1,650 | $291,046 | 0.57% | F |
U.S. Census Bureau data (2024)
The median income in Waynesfield, OH (ZIP 45896) stands at $62,449 per year. This translates to approximately $5,204 per month, assuming no deductions or taxes. The market rate for rent in the area is $711 according to the latest Census ACS data. Given this information, a household in Waynesfield could comfortably afford the market rate rent, which represents just over 13% of their monthly income. This suggests that most residents have enough disposable income to cover living expenses beyond rent.
However, when considering the voucher payment standard set at Fair Market Rent (FMR) of $990 for fiscal year 2024, the situation changes. The voucher amount is significantly higher than the market rate, potentially offering landlords a more stable and reliable income source. Vouchers are designed to bridge the gap between affordable housing and the actual cost of renting in an area, making it easier for low-income households to find suitable accommodation.
With only 15.9% of the 1,833 population being renters, competition among landlords is likely to be fierce. The limited number of renters means that landlords must cater to a smaller pool of potential tenants, many of whom might prefer the security and stability of voucher payments. Landlords who accept vouchers may benefit from a steady stream of rental income, even if the overall demand for rentals is lower.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a strategic advantage in Waynesfield. It not only helps fill vacancies but also provides a higher rent payment ($990) compared to the market rate ($711), ensuring better financial stability. For those considering whether to accept voucher tenants, the data supports a strong case for doing so, given the higher payment standards and the potential to secure long-term tenancy in a competitive market.
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.