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Franklin County/Columbus/43204

43204

ZIPSAFMR
Franklin County, OH
Zillow

ZIP Investment Score

111Above average

095130300
BRFMR
Eff. Rent
0 BR$1,160$1,000
1 BR$1,240$990
2 BR$1,480$1,170
3 BR$1,760$1,580
4 BR$2,010$1,630
5 BR$2,312Not available
6 BR$2,658Not available
7 BR$3,057Not available
8 BR$3,516Not available

Purchase Price Calculator

Maximum purchase price
$111,945

Cost breakdown

+Likely effective rent$1,170
HUD FMR$1,480
Market rentUsed$1,170
Est. payment standard (90%)$1,330
-Principal and interest-$566
Loan amount$89,556
Down payment$22,389
Rate6.50%
Term30 years
-Operating costs-$404
Property taxes-$112
Insurance-$175
Utilities$0
HOA$0
Management-$117
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,016(84.9% ROI)
Projected value
$120,553
Return breakdown
Property appreciation+$8,608
Loan principal paid down+$3,209
Rental cash flow+$7,200
5-year hold
+$32,432(144.9% ROI)
Projected value
$126,656
Return breakdown
Property appreciation+$14,710
Loan principal paid down+$5,722
Rental cash flow+$12,000
10-year hold
+$68,988(308.1% ROI)
Projected value
$143,299
Return breakdown
Property appreciation+$31,354
Loan principal paid down+$13,634
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.16
1 BR
1.25
2 BR
1.26
3 BR
1.11
4 BR
1.23
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 43204 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 43204 (Columbus, OH) is $1,480 a month. That is up 13.8% from $1,300 in FY 2026. Columbus is in the Columbus, OH HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 59 ZIP codes in Franklin County, 43204 is tied for the 43rd-highest two-bedroom rent (county range $1,000–$2,350). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 43204 is 41% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 43204
BedroomsFY 2027Change90–110% range
Studio$1,160+14.9%$1,044–$1,276
1BR$1,240+13.8%$1,116–$1,364
2BR$1,480+13.8%$1,332–$1,628
3BR$1,760+12.8%$1,584–$1,936
4BR$2,010+14.9%$1,809–$2,211

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 43204
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,240$1,480$1,760$2,010
FY 2026$1,010$1,090$1,300$1,560$1,750
FY 2025$980$1,060$1,280$1,540$1,720
FY 2024$870$960$1,170$1,410$1,570
FY 2023$770$860$1,060$1,300$1,440

Two-bedroom rent in nearby Franklin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 43204
43195$1,620+9.5%
43201$1,690+14.2%
43202$1,510+2.0%
43203$1,300−12.2%
43204Current$1,480—
43205$1,380−6.8%
43206$1,670+12.8%
43207$1,420−4.1%
43209$1,510+2.0%
43210$1,000−32.4%
43211$1,340−9.5%
43212$1,760+18.9%

Questions about ZIP 43204 rents

How much will Section 8 pay for a two-bedroom in ZIP 43204?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,480, that basic range is $1,332 to $1,628 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 43204 in?

ZIP 43204 is in the Columbus, OH HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 43204 for FY 2027?

The two-bedroom FMR rose 13.8%, from $1,300 in FY 2026 to $1,480 in FY 2027. Since FY 2023 it has risen 39.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentColumbus, OH fair market rentOH statewide rentsWhat is SAFMR?Data sources