Location: Preble County, 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 | $770 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $222,046 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 45003, with a population of 839, is primarily characterized by a modest rental presence, with 24.0% of residents being renters. This indicates that the area is not heavily dominated by renters but rather maintains a balance between homeowners and tenants. The median household income stands at $71,250, which provides a benchmark for assessing the financial capacity of potential tenants.
In terms of rental affordability, the typical market rent of $760 represents approximately 10.6% of the median household income. This suggests that for many residents, the cost of rent is manageable without consuming an excessive portion of their earnings. However, it is important to note that the Fair Market Rent (FMR) for the area is set at $1030 for FY 2024, indicating that there is a significant gap between the actual market rent and the FMR. Landlords should be prepared to offer rents closer to the FMR to attract tenants utilizing Section 8 vouchers.
The demand for Section 8 vouchers in ZIP 45003 is likely to be moderate due to the relatively low percentage of renters. Nevertheless, given the median income level, those who do receive vouchers will typically have additional income sources or lower overall living expenses to complement the voucher amount. As such, landlords can anticipate tenants who are financially responsible and capable of covering the difference between the voucher and the FMR if necessary.
To summarize, ZIP 45003 is not a renter-heavy zone with high voucher demand. Instead, it is an area where landlords should expect a mix of tenants, including some who use Section 8 vouchers. These tenants will generally be financially stable, with the ability to cover any shortfall between the voucher amount and the actual rent required to meet the FMR.
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.