Location: Dayton-Kettering-Beavercreek, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
U.S. Census Bureau data (2024)
The Franklin, OH market, specifically ZIP code 45005, presents a dynamic environment for real estate investors. With a Fair Market Rent (FMR) set at $1150 for fiscal year 2024, it's clear that the rental market is robust, yet the actual market rent, measured by Zillow's Observed Rental Index (ZORI), stands at $1,052, indicating a slight gap between government benchmarks and current market conditions.
The 0.3% price-cut share suggests that landlords and sellers are not frequently reducing their prices, which implies a relatively stable market where properties are valued appropriately. The 23-day Days on Market (DOM) further supports this notion, showing that homes are selling quickly once they're listed, a sign of strong buyer interest and potentially tight inventory.
A median home value of $270,692 positions Franklin, OH as an affordable market, especially when considering the local rental rates. This affordability can attract both buyers and renters, creating a mixed demand scenario that benefits investors who can diversify their portfolios between rental properties and owner-occupied homes.
The 25.4% renter share is noteworthy. It indicates that nearly one-quarter of households in ZIP 45005 are renting, signaling ongoing long-term housing pressure. This demographic characteristic suggests that there will be consistent demand for rental properties, making it a viable investment area for those looking to capitalize on steady rental income.
While the data doesn't provide a direct indication of whether supply outpaces demand or vice versa, the combination of quick sales, minimal price cuts, and a significant renter population points towards a market where demand is likely keeping pace with, if not slightly exceeding, supply. This balance creates an environment where landlords and small-portfolio investors can expect reasonable returns without the need to aggressively lower rents or sale prices.
In summary, ZIP 45005 offers a stable and somewhat favorable landscape for real estate investments, driven by a healthy rental market and a sizable renter base. These factors contribute to a market in motion, where the dynamics favor those who can adapt to the local conditions and leverage the existing trends.
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.