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 | $970 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,330 | $344,535 | 0.39% | F |
| 3BR | $1,740 | $450,524 | 0.39% | F |
| 4BR | $1,940 | $559,098 | 0.35% | F |
U.S. Census Bureau data (2024)
The Section 8 program in ZIP code 45053, which encompasses Okeana, OH, presents a distinct opportunity for landlords and small-portfolio investors due to the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 45053 in fiscal year 2024 is set at $1,120, while the Census American Community Survey (ACS) indicates that the average market rent stands at $1,382. This creates a gap of $262, representing approximately 23.4% below the market rate.
This gap means that landlords accepting Section 8 vouchers will be renting their properties below the open-market rates. In Okeana, where only 8.2% of residents are renters, the competition for rental units is relatively low. However, the median home value is $448,271, and the median household income is $109,148, suggesting that homeownership is more prevalent and affordable compared to renting.
The cost of housing voucher tenants below market rates can be significant. Landlords must weigh the benefits of guaranteed rental income against the potential drawbacks such as stricter maintenance requirements and lower rental rates. Given the median income in Okeana, it's evident that many residents could afford higher rents, making the decision to accept Section 8 vouchers a strategic choice rather than a necessity driven by economic conditions.
In summary, the Section 8 program in ZIP 45053 offers a clear indication of the rental market dynamics. With an FMR significantly lower than the market rent, landlords must consider the implications of this gap when deciding whether to participate in the program. The analysis should be anchored in the local context of Okeana, where the rental market is less competitive compared to homeownership, but the financial impact of renting below market rates remains a critical factor.
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.