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Franklin County/Columbus/43251

43251

ZIPFMR
Franklin County, OH
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,258$1,140
1 BR$1,346$1,450
2 BR$1,602$1,700
3 BR$1,909$1,970
4 BR$2,172$2,390
5 BR$2,498Not available
6 BR$2,872Not available
7 BR$3,303Not available
8 BR$3,799Not available

Purchase Price Calculator

Maximum purchase price
$190,703

Cost breakdown

+Likely effective rent$1,700
HUD FMR$1,602
Market rent$1,760
Est. payment standard (106%)Used$1,700
-Principal and interest-$964
Loan amount$152,562
Down payment$38,141
Rate6.50%
Term30 years
-Operating costs-$536
Property taxes-$191
Insurance-$175
Utilities$0
HOA$0
Management-$170
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,329(71.7% ROI)
Projected value
$205,366
Return breakdown
Property appreciation+$14,663
Loan principal paid down+$5,466
Rental cash flow+$7,200
5-year hold
+$46,807(122.7% ROI)
Projected value
$215,763
Return breakdown
Property appreciation+$25,060
Loan principal paid down+$9,747
Rental cash flow+$12,000
10-year hold
+$100,639(263.9% ROI)
Projected value
$244,116
Return breakdown
Property appreciation+$53,413
Loan principal paid down+$23,226
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.10
1 BR
0.89
2 BR
0.91
3 BR
0.95
4 BR
0.70
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 43251 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 43251 (Columbus, OH) is $1,602 a month. That is up 12.0% from $1,430 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. The median county two-bedroom FMR in Ohio is $1,048, so ZIP 43251 is 53% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 43251
BedroomsFY 2027Change90–110% range
Studio$1,258+13.2%$1,132–$1,384
1BR$1,346+12.7%$1,211–$1,481
2BR$1,602+12.0%$1,442–$1,762
3BR$1,909+11.3%$1,718–$2,100
4BR$2,172+12.7%$1,955–$2,389

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 43251
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,258$1,346$1,602$1,909$2,172
FY 2026$1,111$1,194$1,430$1,715$1,927
FY 2025$1,104$1,194$1,445$1,741$1,939
FY 2024$970$1,065$1,302$1,574$1,745
FY 2023$842$941$1,163$1,426$1,577

Questions about ZIP 43251 rents

How much will Section 8 pay for a two-bedroom in ZIP 43251?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,602, that basic range is $1,442 to $1,762 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 43251 in?

ZIP 43251 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 43251 for FY 2027?

The two-bedroom FMR rose 12.0%, from $1,430 in FY 2026 to $1,602 in FY 2027. Since FY 2023 it has risen 37.7%.

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 Fair Market Rents. 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