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 | $1,040 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,430 | $206,166 | 0.69% | D |
| 3BR | $1,880 | $317,775 | 0.59% | F |
| 4BR | $2,120 | $463,208 | 0.46% | F |
| 5BR | $2,459 | $547,339 | 0.45% | F |
U.S. Census Bureau data (2024)
The analysis for the Section 8 program in ZIP code 45002, located in Cleves, Ohio, reveals a narrow gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 45002 in fiscal year 2024 is set at $1,130, while the Census American Community Survey (ACS) indicates that the market rent is $1,139. This means the gap between FMR and market rent is only $9, or approximately 0.8%.
In this context, where the FMR is slightly lower than the market rent, landlords and small-portfolio investors should be aware of the potential costs associated with accepting housing vouchers. The voucher system typically reimburses landlords at the FMR rate, which is below the current market rate. As such, landlords might find themselves receiving less rent than what they could charge on the open market. For instance, if a property rents for $1,139, the landlord would receive $1,130 from a voucher tenant, resulting in a loss of $9 per month, or roughly $108 annually.
Cleves, Ohio has a significant rental population, with 26.8% of residents renting their homes. The median home value stands at $352,815, indicating a relatively stable housing market. However, the median household income of $81,229 suggests that many residents might rely on assistance programs like Section 8 to afford housing. Given these factors, it's crucial for landlords to understand the implications of accepting voucher tenants.
While the gap is minimal, it's important to consider other aspects of the Section 8 program. These include administrative requirements, inspection processes, and the potential for longer-term, more stable tenancy. Landlords must weigh these factors against the slight reduction in monthly rent when deciding whether to participate in the Section 8 program. In Cleves, where the market is tight and competition for rentals is high, the decision to accept Section 8 tenants can be pivotal for maintaining occupancy rates and ensuring steady cash flow.
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.