Location: Cincinnati, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
U.S. Census Bureau data (2024)
The median home value in ZIP 45051, located in Cincinnati, OH-KY-IN HUD Metro FMR Area, is $245,800. This figure provides insight into the local real estate market, enabling investors to calculate the rent-to-price ratio. Given that the HUD Fair Market Rent (FMR) for the area is set at $1090 for fiscal year 2024, it's crucial to compare this against market rents to understand the potential cash flow for Section 8 investors.
Market rent data for ZIP 45051 indicates an average rent of around $1150, based on recent listings. This suggests that voucher tenants would cashflow at the FMR rate, but only marginally so, as the difference between the FMR and market rent is relatively small. For better cash flow, investors might need to focus on premium units that can command higher rents or negotiate with the local housing authority for a slightly higher FMR.
The rent-to-price ratio can be derived from these figures. With a median home value of $245,800 and an average market rent of $1150, the annualized rent-to-price ratio is approximately 0.55%. This low ratio indicates that the area leans towards being a buy market rather than a rent market, which could affect the decision-making process for investors considering long-term strategies.
Regarding the days on market (DOM) and price-cut share, data shows a median DOM of 32 days and a price-cut share of 10%, reflecting stable conditions in the local real estate market. These metrics suggest that properties are generally selling without significant price reductions, indicating a robust local economy and steady demand for both rentals and purchases.
The strongest investor angle in ZIP 45051 is likely appreciation, given the historical trend of a 17.8% increase over the past decade. While cash flow and stability are important, the potential for capital gains makes this a compelling opportunity for investors looking to grow their portfolios over time.
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.