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 | $1,480 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $2,030 |
| 3 Bedrooms | $2,660 |
| 4 Bedrooms | $3,010 |
| 5 Bedrooms | $3,492 |
| 6 Bedrooms | $3,911 |
| 7 Bedrooms | $4,224 |
| 8 Bedrooms | $4,435 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,660 | $384,746 | 0.69% | D |
| 4BR | $3,010 | $506,099 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 45034, located within the Cincinnati, OH-KY-IN HUD Metro FMR Area, presents a unique set of characteristics that can be compared to other ZIP codes within the same metro area. With a Fair Market Rent (FMR) of $1650 for fiscal year 2024, it stands out as a potentially affordable option for renters. However, the lack of available market rent data means that direct comparisons to actual rental prices in other areas cannot be made.
The median home value in ZIP 45034 is $429,020, which is lower than many other ZIP codes in the Cincinnati metro area. This suggests that 45034 could be considered a value pocket, offering homeownership at a price point below the average for the region. Additionally, the 8.3% renter share indicates that a majority of residents in this area own their homes, which is typical for many ZIP codes within the Cincinnati metro but could also imply a less dense rental market.
When analyzing the potential benefits for landlords and small-portfolio investors, the lower home value and the specific FMR figure are key indicators. The FMR represents the maximum amount that a household paying 30% of its income towards housing should pay for a rental unit, making it a critical benchmark for determining affordability. In ZIP 45034, the FMR of $1650 is likely below the market rent in many parts of the Cincinnati metro, suggesting that this area could be attractive for Section 8 tenants seeking affordable housing options.
The combination of a relatively low home value and a moderate renter share does not necessarily indicate a sweet spot for Section 8 properties, as the renter share is not exceptionally high. Nevertheless, the lower FMR and home value could make it an appealing location for those interested in affordable housing investments. Landlords in this area might find opportunities to offer competitive rental rates while still maintaining a reasonable profit margin.
In summary, ZIP 45034 appears to be a value pocket within the larger Cincinnati, OH-KY-IN HUD Metro FMR Area, characterized by lower home values and a specific FMR figure. This makes it a suitable location for investors looking to engage in affordable housing markets, though the exact positioning as a mid-tier or premium sub-market would require further analysis of comparable ZIP codes' market rents and other economic indicators.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.