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 | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,430 | $149,682 | 0.96% | C |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 45001 are governed by the SAFMR (Small Area Fair Market Rent) which is specifically tailored for this region. For a two-bedroom apartment in ZIP 45001, the SAFMR for FY 2024 is set at $1000. This figure represents the maximum amount that a Section 8 voucher will cover for rent in this area. However, it's important to understand how the actual reimbursement to landlords works.
The local market rent, according to the Census ACS, is currently running at $860 for a two-bedroom unit. Landlords might be tempted to think they can charge the full SAFMR of $1000, but the reality is that the voucher system has specific rules about how much the tenant contributes and how utilities are handled.
A Section 8 voucher holder typically pays 30% of their adjusted income toward rent. The government then covers the difference between the tenant’s contribution and the SAFMR up to $1000. In addition, there are utility allowances that vary based on the size of the unit and the location. For a two-bedroom apartment in ZIP 45001, the utility allowance is included in the SAFMR calculation, so landlords should not separately charge for utilities if they want to remain fully compliant with the program.
To illustrate, if a tenant's adjusted income is $1500 per month, they would pay 30%, or $450, toward rent. The government would then reimburse the landlord the remaining $550 to reach the total SAFMR of $1000. This ensures that the landlord receives the full SAFMR amount as long as the rent does not exceed the limit.
However, since the local market rent is lower at $860, landlords who set their rents at the market rate will receive a higher reimbursement from the government. In this scenario, the landlord would receive the tenant’s $450 contribution plus an additional $550 from the government, totaling $1000, which exceeds the market rent by $140. This creates a surplus for landlords who keep their rents at or below the market rate.
It's crucial for landlords to understand that while the SAFMR sets a cap at $1000, charging above the local market rent of $860 could lead to vacancies, as tenants might prefer units that cost less out-of-pocket. Therefore, landlords should aim to balance their rent pricing between the SAFMR and the local market rent to ensure occupancy while maximizing their financial benefits.
In summary, for a two-bedroom apartment in ZIP 45001, landlords can expect a reimbursement gap or surplus depending on how they set their rents. If they align with the market rate of $860, they will see a surplus of $140 per month over the market rent due to the higher SAFMR reimbursement rate. This makes Section 8 a potentially lucrative option for landlords looking to secure steady tenants and income in this area.
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.