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Franklin County/Columbus/43231

43231

ZIPSAFMR
Franklin County, OH
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$1,170$1,010
1 BR$1,250$1,050
2 BR$1,490$1,590
3 BR$1,780$1,940
4 BR$2,020$2,220
5 BR$2,323Not available
6 BR$2,671Not available
7 BR$3,072Not available
8 BR$3,533Not available

Purchase Price Calculator

Maximum purchase price
$174,357

Cost breakdown

+Likely effective rent$1,590
HUD FMR$1,490
Market rent$1,650
Est. payment standard (107%)Used$1,590
-Principal and interest-$882
Loan amount$139,485
Down payment$34,871
Rate6.50%
Term30 years
-Operating costs-$508
Property taxes-$174
Insurance-$175
Utilities$0
HOA$0
Management-$159
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,604(73.4% ROI)
Projected value
$187,763
Return breakdown
Property appreciation+$13,406
Loan principal paid down+$4,997
Rental cash flow+$7,200
5-year hold
+$43,824(125.7% ROI)
Projected value
$197,269
Return breakdown
Property appreciation+$22,912
Loan principal paid down+$8,912
Rental cash flow+$12,000
10-year hold
+$94,070(269.8% ROI)
Projected value
$223,192
Return breakdown
Property appreciation+$48,835
Loan principal paid down+$21,235
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.16
1 BR
1.19
2 BR
0.90
3 BR
0.88
4 BR
0.84
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 43231 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 43231 (Columbus, OH) is $1,490 a month. That is up 10.4% from $1,350 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, 43231 has the 42nd-highest two-bedroom rent (county range $1,000–$2,350). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 43231 is 42% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 43231
BedroomsFY 2027Change90–110% range
Studio$1,170+11.4%$1,053–$1,287
1BR$1,250+10.6%$1,125–$1,375
2BR$1,490+10.4%$1,341–$1,639
3BR$1,780+9.9%$1,602–$1,958
4BR$2,020+11.0%$1,818–$2,222

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 43231
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,170$1,250$1,490$1,780$2,020
FY 2026$1,050$1,130$1,350$1,620$1,820
FY 2025$1,060$1,150$1,390$1,670$1,870
FY 2024$930$1,020$1,250$1,510$1,680
FY 2023$830$920$1,140$1,400$1,550

Two-bedroom rent in nearby Franklin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 43231
43223$1,440−3.4%
43224$1,350−9.4%
43226$1,620+8.7%
43227$1,560+4.7%
43228$1,520+2.0%
43229$1,480−0.7%
43230$1,960+31.5%
43231Current$1,490—
43232$1,420−4.7%
43234$1,620+8.7%
43235$1,900+27.5%
43236$1,620+8.7%

Questions about ZIP 43231 rents

How much will Section 8 pay for a two-bedroom in ZIP 43231?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,490, that basic range is $1,341 to $1,639 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 43231 in?

ZIP 43231 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 43231 for FY 2027?

The two-bedroom FMR rose 10.4%, from $1,350 in FY 2026 to $1,490 in FY 2027. Since FY 2023 it has risen 30.7%.

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