Location: Cincinnati, OH | 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 | $920 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,710 | $375,656 | 0.46% | F |
| 4BR | $1,890 | $535,824 | 0.35% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 41007 are straightforward. The SAFMR (Standard Amount for Fair Market Rent) for a two-bedroom apartment in this ZIP code is set at $1170 per month for fiscal year 2024. This figure is specifically tailored for this ZIP code, reflecting the unique housing conditions here.
In contrast, the local market rent for a two-bedroom unit, based on Census ACS data, is $780 per month. This discrepancy highlights the potential financial benefits landlords can gain by participating in the Section 8 program, as they receive a higher rate than the typical market rent.
A voucher payment under Section 8 consists of two parts: the tenant's contribution and the utility allowance. The tenant's contribution is generally 30% of their adjusted income, which varies widely depending on the individual's financial situation. For simplicity, let’s assume an average tenant contribution of $351, which is 30% of a median household income of $14,040 annually (based on typical Section 8 income levels).
The utility allowance is an additional amount that covers electricity, gas, water, and sewer. For ZIP 41007, this allowance is typically around $200 per month, though it can vary slightly. Thus, the total monthly reimbursement a landlord receives from a Section 8 voucher for a two-bedroom apartment would be $1170 minus the tenant’s contribution of $351 plus the utility allowance of $200. This results in a net reimbursement of $1019 per month.
To summarize, if you rent a two-bedroom apartment for the SAFMR rate of $1170, you will receive approximately $1019 from the Section 8 program each month, after accounting for the tenant’s contribution and utility allowance. This leaves a surplus of $239 over the local market rent of $780. Therefore, landlords in ZIP 41007 can expect to make $239 more per month on average compared to renting at market rates without a voucher.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.