Section 8 Fair Market Rent (FMR) for ZIP 41051 - 2027
Location: Cincinnati, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
Investment Score for ZIP 41051
D
Monthly Rent (2BR)
$1,650
Median Price (2BR)
$224,073
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,200 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,450 |
| 5 Bedrooms | $2,842 |
| 6 Bedrooms | $3,183 |
| 7 Bedrooms | $3,438 |
| 8 Bedrooms | $3,610 |
Investment Analysis by Bedroom Size
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms |
Monthly FMR |
Median Price |
1% Rule |
Grade |
| 2BR |
$1,650 |
$224,073 |
0.74% |
D |
| 3BR |
$2,170 |
$313,021 |
0.69% |
D |
| 4BR |
$2,450 |
$395,590 |
0.62% |
D |
| 5BR |
$2,842 |
$448,644 |
0.63% |
D |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$104,201
Skeptical investors considering Independence, KY (ZIP 41051) for their rental properties often have several concerns. Let's address them using the available data.
- Will FMR $1410 (zip FY 2024) cover the mortgage on a $329,624 home? The Fair Market Rent (FMR) of $1410 does not directly cover the mortgage payment on a $329,624 home. To understand if it can support the mortgage, we need to calculate the monthly payment based on typical mortgage terms. Assuming a 30-year fixed-rate mortgage at an average rate of 5%, the principal and interest payment alone would be approximately $1784 per month. This does not include property taxes, insurance, maintenance, and other costs associated with owning a home. Therefore, the FMR of $1410 is insufficient to cover the mortgage payment on a home valued at $329,624.
- Is there enough renter demand at 12.5%? The data shows that 12.5% of households in ZIP 41051 are renters. This indicates a moderate level of demand. However, the percentage alone does not provide a complete picture. To assess whether this demand is sufficient, we would need to know the total number of households and the vacancy rate. If the vacancy rate is low, it suggests strong demand relative to supply. Unfortunately, the provided data does not specify these additional metrics, so we cannot definitively conclude the strength of the rental market solely based on the 12.5% figure.
- Will vouchers keep pace with $2,088 market rents? The current market rent in ZIP 41051 is $2,088. Vouchers, which are part of the Housing Choice Voucher program, typically do not cover the entire rent amount. The voucher payment is usually based on the area median income and the family's ability to pay. In FY 2024, the maximum voucher payment for a one-bedroom unit in ZIP 41051 is expected to be around $1410. This means that landlords accepting vouchers would likely have to charge less than the market rent or require tenants to pay the difference. Given the $2,088 market rent, vouchers will not fully cover the cost, leaving a gap that tenants must fill.
The data clearly shows that the FMR will not cover the mortgage on a $329,624 home. For the other two points, while we have percentages and market rent figures, they do not fully answer the questions without additional context such as the total number of households and the vacancy rate. Vouchers will not cover the full market rent, necessitating either lower rents or additional payments from tenants.
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.