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 | $1,580 |
| 1 Bedroom | $1,690 |
| 2 Bedrooms | $2,160 |
| 3 Bedrooms | $2,840 |
| 4 Bedrooms | $3,210 |
| 5 Bedrooms | $3,724 |
| 6 Bedrooms | $4,171 |
| 7 Bedrooms | $4,505 |
| 8 Bedrooms | $4,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,160 | $350,084 | 0.62% | D |
| 3BR | $2,840 | $386,091 | 0.74% | D |
| 4BR | $3,210 | $509,528 | 0.63% | D |
| 5BR | $3,724 | $652,174 | 0.57% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP 41091 (Union, KY, Boone County) are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment is set at $1790 per month for the fiscal year 2024. This figure is specifically tailored for this ZIP code, reflecting the unique rental market conditions in Union, KY.
Local market rents, according to the Census ACS, run at $1675 for a two-bedroom unit. This means that the SAFMR is higher than the average market rent, which can be beneficial for landlords. When a tenant uses a Section 8 voucher, they pay 30% of their adjusted income towards rent. The government then covers the difference between the tenant's payment and the SAFMR, up to the amount of $1790.
To illustrate, if a tenant's share of the rent is $500, the government will pay the remaining $1290 to bring the total to the SAFMR of $1790. However, if the market rent is below the SAFMR, as it is in this case, the government will only cover the actual market rent minus the tenant's portion. For instance, if the market rent is $1675 and the tenant pays $500, the government would reimburse $1175, making the total rent collected $1675.
In addition to the base rent, there are utility allowances. These vary based on the number of bedrooms and the region. For a two-bedroom unit in ZIP 41091, the utility allowance is typically around $300 per month. This allowance is intended to help cover the cost of utilities, but it does not increase the overall reimbursement rate beyond the SAFMR.
Given these specifics, landlords in ZIP 41091 can expect a reimbursement rate that closely matches the local market rent. In this scenario, where the SAFMR is $1790 and the market rent is $1675, the typical reimbursement gap is minimal. Landlords might see a slight surplus due to the higher SAFMR compared to the actual market rent, but it's important to note that this surplus is limited to the actual market rent plus the utility allowance.
In summary, for a two-bedroom unit in ZIP 41091, landlords should anticipate a reimbursement rate of approximately $1675 when the tenant's portion and utility allowances are factored in. This results in a surplus of about $115 per month over the local market rent, assuming the tenant's portion remains consistent. This economic model ensures that landlords receive a fair rate while keeping housing affordable for low-income families.
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.