Section 8 Fair Market Rent (FMR) for ZIP 45244 - 2027

Location: Cincinnati, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area

Investment Score for ZIP 45244

Monthly Rent (2BR)

$1,470

Median Price (2BR)

$204,591

1% Rule

0.72%

Annual Yield

8.62%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,070
1 Bedroom	$1,150
2 Bedrooms	$1,470
3 Bedrooms	$1,930
4 Bedrooms	$2,180
5 Bedrooms	$2,529
6 Bedrooms	$2,832
7 Bedrooms	$3,059
8 Bedrooms	$3,212

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,470	$204,591	0.72%	D
3BR	$1,930	$289,895	0.67%	D
4BR	$2,180	$564,356	0.39%	F
5BR	$2,529	$743,362	0.34%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

28,511

Median Household Income

$109,287

Housing Units

11,294

Renter Percentage

19.3%

Occupancy Rate

97.1%

Renter Occupied

2,117

Dry Run, OH, located in ZIP code 45244, offers a stable real estate market with opportunities for both rental and homeownership investments. The area is characterized by a mix of residential properties and a growing population, making it an attractive location for investors looking to capitalize on steady demand.

The Fair Market Rent (FMR) for ZIP 45244 in fiscal year 2024 is set at $1240, providing a benchmark for affordable housing standards.
The market rent, as measured by ZORI (Zillow Observed Rental Index), stands at $1,605, indicating that rental prices in Dry Run exceed the FMR, suggesting a strong rental market.
The median home value in Dry Run is $414,646, reflecting a moderate price range for homeownership that is accessible to many residents given the local economic conditions.
Renters make up 19.3% of the housing market in ZIP 45244, showing a significant but not overwhelming proportion of tenants compared to homeowners.
The days on market (DOM) for rental listings is 6 days, which is a very short period, signaling high tenant demand and quick turnover for available units.
The median household income in the area is $109,287, supporting the ability of residents to afford higher rents and home values.

In summary, Dry Run, OH presents a favorable investment climate with above-average rental prices and a robust economy. The relatively low FMR compared to actual market rents suggests potential for rental properties to attract subsidized housing vouchers. A moderate median home value and strong median income indicate a balanced market where both rental and homeownership investments can thrive. Quick rental listing turnovers highlight a competitive tenant market, advantageous for landlords seeking to fill vacancies rapidly. For small-portfolio investors, this ZIP code offers solid returns with minimal risk, especially in rental properties.

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.