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 | $1,200 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,450 |
| 5 Bedrooms | $2,842 |
| 6 Bedrooms | $3,183 |
| 7 Bedrooms | $3,438 |
| 8 Bedrooms | $3,610 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,650 | $172,052 | 0.96% | C |
| 3BR | $2,170 | $226,876 | 0.96% | C |
| 4BR | $2,450 | $290,981 | 0.84% | C |
| 5BR | $2,842 | $313,701 | 0.91% | C |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP 45240 (Forest Park, OH) for Section 8 investments, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1360 cover the debt service on a property valued at $247,408?
No: The FMR of $1360 does not sufficiently cover the debt service for a property priced at $247,408. This means that relying solely on Section 8 tenants would result in financial losses due to insufficient rental income.
Yes: Proceed to the next question. However, since $1360 likely does not cover the debt service on a $247,408 property, this scenario is unlikely without significant subsidies or cost adjustments.
2) Is the market rent of $1,394 (ZORI) above, at, or below the FMR?
Above FMR: The ZORI of $1,394 exceeds the FMR of $1360, indicating that market rents are higher than what Section 8 will pay. This suggests that landlords might prefer market-rate tenants over Section 8 tenants, reducing the pool of potential Section 8 tenants.
At or Below FMR: If market rents were at or below the FMR, landlords might be more inclined to accept Section 8 tenants. However, this is not the case in ZIP 45240, where market rents are higher.
3) Are 39.4% renters plus a 10-day Days on Market (DOM) enough demand?
It Depends: With 39.4% of residents being renters and an average DOM of 10 days, there is some demand for rental properties. However, the higher market rent compared to the FMR means that landlords may prioritize market-rate tenants. Therefore, the success of Section 8 investments hinges on finding a balance between the number of available Section 8 vouchers and the willingness of landlords to accept them.
In conclusion, buying in ZIP 45240 for Section 8 investments is generally not recommended due to the low FMR relative to property values and the higher market rents that attract more landlords. However, if you can find properties priced lower or have access to significant subsidies, it may still be feasible. Additionally, the demand for rentals is present but must be carefully considered against the competition from market-rate tenants.
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.