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 | $900 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $138,425 | 0.89% | C |
| 3BR | $1,620 | $216,391 | 0.75% | D |
| 4BR | $1,830 | $275,379 | 0.66% | D |
U.S. Census Bureau data (2024)
ZIP code 45217, located in Saint Bernard, Ohio, is a modest-sized neighborhood with a total population of 6,454 residents. The area has a significant rental market, with 40.0% of the population renting their homes. This indicates a stable demand for rental properties, which is essential for any landlord or small-portfolio investor considering this location.
The median household income in ZIP 45217 is $62,200, which suggests that the residents have a decent financial standing. However, the median home value stands at $204,487, reflecting a relatively affordable housing market. These figures provide a balanced environment where both homeownership and rental living are viable options for the local populace.
Moving into the economic analysis of rents, the Fair Market Rent (FMR) for ZIP 45217 in fiscal year 2024 is set at $1,050. In contrast, the actual market rent, measured by Zillow's Observed Rent Index (ZORI), is higher at $1,241. This discrepancy highlights an opportunity for landlords who can leverage the difference between the government-subsidized rent rates and the market rates to attract Section 8 tenants while still achieving a competitive rental yield.
The gap between the FMR and ZORI suggests that ZIP 45217 is suitable for both hands-off voucher operators and hands-on value-add buyers. For those looking to operate with minimal involvement, the established Section 8 program can offer a steady stream of tenants with guaranteed income. Meanwhile, for investors willing to engage more actively, there is potential to enhance property values through improvements and thereby increase rental income above the FMR.
In conclusion, ZIP 45217 presents a favorable landscape for real estate investment, particularly for those interested in Section 8 properties. With a mix of affordability and rental demand, it offers opportunities for passive income generation as well as active property management strategies aimed at maximizing returns.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.