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 | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $341,810 | 0.35% | F |
| 3BR | $1,580 | $378,047 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 45203 in Cincinnati, OH, presents a dynamic rental market influenced by significant factors. The Fair Market Rent (FMR) for the area stands at $990 for the fiscal year 2024, indicating a higher threshold set by HUD for determining eligibility and payment standards for subsidized housing programs. This figure contrasts with the actual market rent reported by the Census American Community Survey, which is $724. This discrepancy suggests that while there might be an expectation for higher rents, the current market reflects a lower average, possibly due to a balance between supply and demand.
The median home value in the area is $370,274, which is a substantial investment for homeowners. However, the high percentage of renters—77.0%—implies that a significant portion of the population prefers renting over owning. This high renter share points to sustained long-term housing pressure, as it indicates a persistent demand for rental properties. Landlords and small-portfolio investors can capitalize on this trend, given the consistent need for rental units.
Despite the lack of specific data on price-cut shares and days on market (DOM), the overall snapshot of the market suggests a steady state rather than a rapidly changing one. The high renter share and the difference between FMR and market rent point towards a market where demand is strong but not overwhelming, allowing for stable occupancy rates without significant price adjustments.
In conclusion, ZIP 45203 is a market characterized by a high renter population and steady demand, making it attractive for those looking to invest in rental properties. The dynamics of the market suggest that while there is pressure on housing, the supply is sufficient to meet the needs of renters, leading to a balanced situation. For investors, this means a reliable rental income stream, supported by the significant proportion of residents who choose to rent.
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.