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 | $1,300 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,830 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,670 |
| 5 Bedrooms | $3,097 |
| 6 Bedrooms | $3,469 |
| 7 Bedrooms | $3,747 |
| 8 Bedrooms | $3,934 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,420 | $588,894 | 0.41% | F |
| 4BR | $2,670 | $903,544 | 0.3% | F |
| 5BR | $3,097 | $1,257,023 | 0.25% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for landlords investing in ZIP 45174 under the Section 8 program are significant. First, tenant turnover could be a major issue, as the market rent stands at $3,125 while the Fair Market Rent (FMR) for FY 2024 is only $1,790. This substantial gap between market rates and FMR indicates that tenants receiving vouchers might struggle to afford the rent, leading to higher turnover rates and instability.
Vacancy exposure is another critical concern. With no data available on days on market (DOM), it's challenging to predict how quickly properties can be rented out once they become vacant. However, the disparity between market rent and FMR suggests that landlords might face prolonged vacancies due to limited voucher holders willing to pay the higher rates.
The deferred maintenance exposure is also noteworthy. The typical home value in ZIP 45174 is $769,747, while the median income is $193,750. This implies that many homeowners might not have the financial capacity to maintain their properties adequately, which could lead to increased repair costs for landlords. Additionally, the lower income levels mean that tenants might have difficulty affording utilities or unexpected expenses, potentially resulting in delinquency or eviction.
Despite these challenges, there is a silver lining. The renter share in ZIP 45174 is 3.4%, indicating a relatively high concentration of renters. High renter density typically translates into greater demand for housing vouchers, which could stabilize occupancy rates over time. Landlords who are prepared to manage the risks associated with lower rents and potential maintenance issues may find a steady stream of tenants through the Section 8 program.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.