Location: Dayton-Kettering-Beavercreek, 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 | $1,460 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,000 | $286,950 | 0.7% | D |
| 3BR | $2,630 | $368,545 | 0.71% | D |
| 4BR | $2,960 | $499,212 | 0.59% | F |
| 5BR | $3,434 | $713,910 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 45066, located in Springboro, OH, presents an interesting scenario for both renters and landlords. The median household income in this area is $131,250, which is relatively high compared to national averages. However, when it comes to housing costs, the situation becomes more nuanced. The market rate for rent, known as the Zillow Observed Rent Index (ZORI), stands at $1,624. This figure represents the typical monthly rental cost for properties in the area.
Comparatively, the Fair Market Rent (FMR) for ZIP 45066, as determined by HUD for fiscal year 2024, is set at $1,760. This amount is the maximum that a Section 8 housing voucher will cover for rent. It's worth noting that the FMR is slightly higher than the market rate, indicating that the government's benchmark for affordable housing aligns closely with actual rental prices in the area.
Given the median income and rental rates, a household in Springboro could reasonably afford the market rate rent. The income-to-rent ratio suggests that even with other expenses, a household earning the median income would likely have sufficient funds to cover a $1,624 monthly rent without significant financial strain. This makes the area attractive for renters who might be looking for a balance between affordability and quality of life.
The affordability gap, however, means that landlords face less competition from those seeking lower-cost housing options. With only 8.8% of the population being renters and a total population of 27,545, there is limited demand for extremely low-cost rentals. Landlords can leverage this by offering competitive amenities and services to attract tenants willing to pay closer to the market rate or even up to the FMR.
For landlords considering their strategy regarding voucher versus cash-paying tenants, the data points to a preference for cash-paying tenants. While the FMR covers most of the market rate, the administrative burden and potential delays associated with voucher payments make cash-paying tenants a more straightforward and reliable option. However, accepting vouchers can still be a viable strategy to fill vacancies quickly, especially in a market where competition among landlords is moderate due to the limited number of renters.
In conclusion, landlords in ZIP 45066 should consider the local economic conditions and the preferences of their potential tenant pool. Given the high median income and the slight alignment of FMR with market rates, focusing on attracting cash-paying tenants while keeping an open policy towards vouchers can optimize occupancy and profitability.
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.