Section 8 Fair Market Rent (FMR) for ZIP 41083 - 2027
Location: Owen County, KY | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$53,088
Housing Authorities Serving ZIP 41083
A landlord considering investing in ZIP code 41083 for Section 8 purposes should follow a structured decision-making process based on the following criteria:
Step 1: Debt Service Coverage Ratio (DSCR)
- If the Fair Market Rent (FMR) of $1150 for ZIP 41083 in fiscal year 2024 can cover the debt service on a property valued at $237,345, then proceed to Step 2. Otherwise, do not invest.
Step 2: Market Rent Comparison
- If the market rent of $959 (as per Census ACS) is below the FMR of $1150, then there is potential for profit if the landlord can secure a Section 8 tenant. Proceed to Step 3.
- If the market rent equals or exceeds the FMR, then it does not make financial sense to participate in the Section 8 program because the landlord could receive higher rents from non-subsidized tenants. The answer is no.
Step 3: Demand Analysis
- If the percentage of renters is 9.3% and the days on market (DOM) is not available, but there is sufficient demand based on other indicators such as population growth or job availability, then the investment might be worthwhile. However, the lack of DOM data means that the landlord needs to research further into local real estate trends to ensure that properties are not staying vacant for extended periods.
- If the percentage of renters is low and there is no indication of strong demand, then the landlord should reconsider the investment in ZIP 41083 due to the risk of low occupancy rates.
In summary, a landlord should first verify if the FMR of $1150 can support the debt service on a $237,345 property. If it can, they should next compare this figure to the market rent of $959 to determine if participating in the Section 8 program is financially beneficial. Finally, they must assess the rental demand, which appears to be marginal given the 9.3% of renters, but requires additional investigation to confirm the viability of the investment.
Data Sources: FMR data from HUD (2027). 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.