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 | $1,280 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,610 |
| 5 Bedrooms | $3,028 |
| 6 Bedrooms | $3,391 |
| 7 Bedrooms | $3,662 |
| 8 Bedrooms | $3,845 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,380 | $183,955 | 0.75% | D |
| 2BR | $1,760 | $346,907 | 0.51% | F |
| 3BR | $2,320 | $565,674 | 0.41% | F |
| 4BR | $2,610 | $922,139 | 0.28% | F |
| 5BR | $3,028 | $1,334,019 | 0.23% | F |
U.S. Census Bureau data (2024)
The ZIP code 45208 in Cincinnati, OH, presents an interesting scenario for both renters and landlords. The median income in this area stands at $137,600, which places it above the national average. However, the market rate for rent, measured by ZORI (Zillow Rent Index), is $1,544 per month. This rate is high relative to the median income, indicating a significant portion of the monthly earnings would go towards housing costs.
Comparatively, the Fair Market Rent (FMR) for ZIP 45208 in fiscal year 2024 is set at $1,450. This figure represents the amount the government will pay landlords through the Housing Choice Voucher program, commonly known as Section 8. The difference between the market rate ($1,544) and the FMR ($1,450) suggests a slight affordability gap for renters who rely on vouchers.
Given that 37.6% of the population are renters and the total population is 17,943, there is a substantial demand for rental properties. Landlords must consider how the affordability gap impacts their competition. Properties that accept vouchers may see increased interest due to the lower cost barrier, but they also face the limitations and regulations associated with the Section 8 program.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. While accepting vouchers can fill units faster and ensure steady payments, the slightly lower FMR compared to the market rate means less immediate profit. For those who opt for cash-paying tenants, higher rents are possible, but the competition and the potential challenge of finding tenants willing to pay the market rate must be weighed.
Landlords should evaluate their property management goals and tenant preferences carefully. In ZIP 45208, where the median income is relatively high, there might be a larger pool of cash-paying renters. However, the Section 8 program remains a viable option for ensuring occupancy and stable income, despite the lower rates.
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.