Section 8 Fair Market Rent (FMR) for ZIP 45999 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 45999, located in Ohio, is a relatively small and less densely populated area. This region offers opportunities for landlords and small-portfolio investors looking to enter a market that isn't oversaturated with rental properties. The Federal Market Rent (FMR) provides a baseline for pricing apartments in this area, while other metrics such as median home values and median income give insight into the overall economic landscape.

• Federal Market Rent: The FMR for ZIP 45999 is set at $1140 for the fiscal year 2024, indicating the average rent price for a two-bedroom apartment under the Section 8 program.
• Market Rent: Specific data on market rents is currently unavailable, but it's likely to be influenced by the FMR and local economic conditions.
• Median Home Value: Data on the median home value is not available, which suggests that the housing market might be less active or that there is a scarcity of data.
• Renter Share: The percentage of residents who are renters is also not available, making it difficult to gauge the demand for rental properties in this area.
• Days on Market (DOM): With no specific data on DOM, it's challenging to assess how quickly properties are typically rented out.
• Median Income: Information on the median income of the residents is not available, which could impact the ability of tenants to pay higher rents.

Despite the lack of comprehensive data, the FMR of $1140 offers a solid benchmark for setting rental prices. The absence of detailed market rent and DOM data indicates that the rental market in ZIP 45999 may be less competitive, potentially offering landlords more flexibility in pricing and quicker occupancy times. However, without knowing the median home value and renter share, investors should proceed with caution and consider conducting additional research to understand the local housing dynamics. The unknown median income level adds another layer of uncertainty, but if the area aligns with broader state trends, it could still present viable investment opportunities for those willing to do thorough due diligence.

Data Sources: FMR data from HUD (2027).

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.