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 | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $161,519 | 0.74% | D |
| 3BR | $1,570 | $225,456 | 0.7% | D |
| 4BR | $1,770 | $310,600 | 0.57% | F |
| 5BR | $2,053 | $434,572 | 0.47% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for landlords investing in Section 8 properties in ZIP 45229, Cincinnati, OH, are significant. Tenant turnover poses a substantial risk, with the market rent at $1,206 compared to the Federal Market Rent (FMR) of $990 for fiscal year 2024. This discrepancy suggests that tenants may struggle to cover the difference, leading to higher turnover rates. Vacancy exposure is another concern, as the days on market (DOM) for properties in this area is currently unknown, indicating uncertainty about how quickly a vacant property can be filled. Additionally, the typical home value in ZIP 45229 is $246,716, while the median household income stands at $32,263. This combination implies that many homeowners may defer maintenance due to financial constraints, which could translate into higher repair costs and management challenges for landlords.
However, these risks must be weighed against the high concentration of renters in the area. The renter share in ZIP 45229 is 69.4%, significantly above the national average. High renter density typically correlates with higher demand for housing vouchers, such as those provided through the Section 8 program. This increased demand can help stabilize occupancy rates and ensure a steady stream of tenants who are able to pay their rent on time, despite the lower FMR.
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.