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 | $1,000 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,070 | $113,718 | 0.94% | C |
| 2BR | $1,370 | $163,583 | 0.84% | C |
| 3BR | $1,800 | $240,248 | 0.75% | D |
| 4BR | $2,030 | $385,362 | 0.53% | F |
| 5BR | $2,355 | $721,516 | 0.33% | F |
U.S. Census Bureau data (2024)
The potential downsides for a landlord investing in ZIP 45215 in Lockland, OH under the Section 8 program are significant. Tenant turnover poses a substantial challenge due to the gap between the market rent of $1,412 and the Fair Market Rent (FMR) of $1,120 for FY 2024. This discrepancy suggests that tenants might struggle to afford the higher market rents, leading to frequent moves and high vacancy rates. With an average Days on Market (DOM) of just 8 days, the risk of extended vacancy periods is heightened if a landlord relies solely on Section 8 tenants. Additionally, the typical home value of $236,070 paired with a median income of $69,372 indicates that many landlords may be operating on thin margins, leaving little room for deferred maintenance or unexpected repairs. The financial strain can lead to subpar living conditions, which may further increase tenant dissatisfaction and turnover.
However, these risks must be balanced against the strong demand for rental properties in the area. The 44.3% renter share in ZIP 45215 points to a robust market for Section 8 vouchers. High renter density typically translates into higher demand for affordable housing options, which can stabilize occupancy rates over time. While the initial challenges of attracting and retaining tenants are present, the long-term prospects for maintaining a steady stream of Section 8 tenants appear favorable due to the high concentration of renters who are likely to benefit from government subsidies.
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.