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 | $980 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $161,417 | 0.84% | C |
| 3BR | $1,780 | $221,222 | 0.8% | C |
| 4BR | $2,000 | $264,040 | 0.76% | D |
U.S. Census Bureau data (2024)
Greenhills, OH, ZIP code 45218, is a small suburban neighborhood with a population of 3,836 residents. The area has a significant rental market, with 32.7% of the population being renters. The median household income in the area stands at $71,000, which is relatively high, indicating a stable economic base for the community. The median home value in ZIP 45218 is $228,627, reflecting the modest but comfortable living conditions typical of suburban areas.
The rent economics in Greenhills present an interesting opportunity for investors. According to the Fair Market Rent (FMR) set by the Department of Housing and Urban Development for the fiscal year 2024, the FMR for ZIP 45218 is $1,230. This figure is notably higher than the average market rent reported by the Census Bureau's American Community Survey, which is $993. This disparity suggests that there could be potential for rental income growth, especially if properties are managed to meet the higher FMR standards.
Given these factors, ZIP 45218 could be a suitable location for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR provides a safety net for maintaining rental income levels, ensuring steady cash flow. On the other hand, value-add buyers could leverage the current lower market rents by improving property conditions and amenities to justify higher rents closer to the FMR, thus increasing profitability. However, it's important to note that the success of either strategy depends on the specific properties and their condition, as well as the broader economic context of the area.
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.