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 | $1,340 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,730 |
| 5 Bedrooms | $3,167 |
| 6 Bedrooms | $3,547 |
| 7 Bedrooms | $3,831 |
| 8 Bedrooms | $4,023 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,840 | $203,728 | 0.9% | C |
| 3BR | $2,420 | $329,390 | 0.73% | D |
U.S. Census Bureau data (2024)
Petersburg, KY, ZIP code 41080, is a small, affluent neighborhood with a population of 1,819 residents. The area is predominantly owned, with only 4.3% of the population being renters, indicating a strong preference for homeownership among its residents. The median household income in this ZIP code is a robust $120,833, placing it well above the national average and suggesting a high standard of living. Reflecting this prosperity, the median home value stands at a significant $328,654.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 41080 for fiscal year 2024 is set at $1250. However, there is no available data on the actual market rent, which could be indicative of a low rental demand due to the high homeownership rate.
Given these characteristics, ZIP 41080 is better suited for a hands-off Section 8 voucher operator rather than a hands-on value-add buyer. The limited rental market and high median income suggest that tenants will likely have few issues meeting their portion of the rent, reducing the need for active management. Additionally, the relatively low number of renters means that opportunities for extensive renovations or upgrades to attract higher-paying tenants are minimal.
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.