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 | $940 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,010 | $151,418 | 0.67% | D |
| 2BR | $1,290 | $219,760 | 0.59% | F |
| 3BR | $1,700 | $298,005 | 0.57% | F |
| 4BR | $1,920 | $429,983 | 0.45% | F |
| 5BR | $2,227 | $712,990 | 0.31% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 45230, located in Cincinnati, OH, reveals that the HUD Fair Market Rent (FMR) for FY 2024 is set at $1,080. This figure is notably lower than the current market rent, which stands at $1,375 according to ZORI (Zillow Observed Rent Index). Given these numbers, voucher tenants will generally cashflow at the FMR level, but only marginally so. To achieve positive cashflow, landlords must consider premium units or areas where the market rent is closer to the HUD FMR.
The median home value in ZIP 45230 is $310,968, providing a useful reference point for understanding the local real estate market. The rent-to-price ratio can be calculated by dividing the annual rent ($16,500 based on the market rent of $1,375) by the median home value. This results in a ratio of approximately 0.053, indicating that rental income is relatively low compared to the cost of homeownership. However, this ratio also suggests that rental properties are affordable relative to home values, which can be an attractive feature for potential tenants.
The dynamics of the rental market versus the buying market are also important. With a median Days on Market (DOM) of just 8 days and a price-cut share of only 0.2%, it's clear that homes in this area are selling quickly and without significant price reductions. This rapid turnover and stability in home prices suggest that the real estate market in ZIP 45230 is robust, making it a good location for long-term investments. For Section 8 investors, this means that while cashflow might be tight at the FMR level, the overall stability and strong demand for housing provide a solid foundation for investment.
The strongest angle for Section 8 investors in ZIP 45230 is stability. The combination of a rapidly selling real estate market and a consistent demand for rental properties ensures that investments here are secure and likely to perform well over time.
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.