Location: Ross County, OH | Metro: Fayette County, OH
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 | $720 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $129,309 | 0.77% | D |
| 3BR | $1,210 | $196,653 | 0.62% | D |
| 4BR | $1,490 | $219,819 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP code 45123, located in Greenfield, OH, falls within the broader context of Ross County, OH. Its Fair Market Rent (FMR) for fiscal year 2026 is set at $970. This figure is notably higher than the market rent of $756, suggesting that the area may be slightly overvalued compared to what the market naturally demands. The median home value in ZIP 45123 stands at $165,969, which is lower than the typical home values found in other ZIP codes within Ross County.
The renter share in ZIP 45123 is 31.6%, indicating a significant portion of the population rents rather than owns their homes. This statistic, combined with the lower median home value, points towards a scenario where rental properties could be particularly attractive to tenants, especially those utilizing Section 8 vouchers. When the renter share is high and the home values are below average, it often suggests an opportunity for landlords and small-portfolio investors who can offer affordable housing options that align with the financial capabilities of many residents.
Based on these specific figures, ZIP code 45123 appears to be a value pocket within the Ross County, OH metro. It offers a mix of relatively low home values and a substantial renter base, making it an ideal location for investment in rental properties. Landlords and investors should consider the potential for positive cash flow due to the disparity between FMR and market rent, alongside the benefits of catering to a large number of renters, including those who might benefit from government assistance programs.
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.