Location: Cincinnati, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 45158 in fiscal year 2024 is set at $1130. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is the payment standard set by HUD and does not necessarily reflect the actual rent that tenants will pay. The tenant will typically cover a portion of the rent based on their income, usually around 30%, with the rest subsidized by the government.
To put this into perspective, the average rent for the same ZIP code, according to the Census Bureau's American Community Survey, is $876. This means that landlords participating in the Section 8 program can potentially command higher rents compared to the market average. However, the FMR is designed to ensure that rents remain affordable for low-income families while still covering the reasonable costs of maintaining a rental property.
The renter share in ZIP 45158 is 14.4%. This indicates that approximately 14.4% of the population in this area are renters, suggesting a moderate demand for rental properties. While this percentage alone doesn't guarantee a high demand for Section 8 units specifically, it does suggest that there is a significant portion of the population who might be interested in affordable housing options.
Regarding the acquisition cost of properties in ZIP 45158, the data provided shows it as N/A, which means there isn't enough information to determine an exact price range for buying rental properties in this area. Landlords should conduct thorough research on local real estate prices to understand the potential investment required.
Before committing to a Section 8 rental property, landlords should verify that their property meets the Housing Quality Standards (HQS) set by HUD. These standards ensure that the rental unit is safe, decent, and sanitary for tenants. Meeting these requirements is essential for approval in the Section 8 program and for providing a quality living environment for your tenants.
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.