Location: Harrison County, KY | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
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 | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,380 | $266,266 | 0.52% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 41003 in fiscal year 2024 is set at $990. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It is important to note that this is not the amount you will charge tenants as rent; rather, it is the maximum amount the government will pay towards a tenant's housing costs.
In comparison, the average market rent in ZIP 41003, according to recent Census American Community Survey data, is $686. This indicates that the FMR for Section 8 is higher than the typical rental price in the area, which can be beneficial for landlords looking to cover their expenses without losing money.
The 21.8% renter share of the population in ZIP 41003 suggests a steady demand for rental properties. Landlords considering a Section 8 rental should expect a consistent stream of interested tenants who qualify for the voucher program.
When acquiring a property for a Section 8 rental, the median home value in the area is around $212,034. This figure provides a benchmark for potential acquisition costs, helping you assess whether the investment aligns with your financial goals and the expected income from the FMR.
Before finalizing your decision to enter the Section 8 market, verify that the property meets all HUD (Department of Housing and Urban Development) standards. These standards ensure the property is safe, decent, and sanitary for tenants, and failing to meet them can result in penalties or loss of participation in the program.
Participating in the Section 8 program can be a lucrative opportunity for landlords in ZIP 41003. The payment standard of $990 is above the local average rent of $686, and with a 21.8% share of renters in the area, demand is likely to be strong. Ensure the property complies with HUD standards to avoid any issues that could affect your participation in the program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.