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 | $1,110 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $233,275 | 0.65% | D |
| 3BR | $2,000 | $310,799 | 0.64% | D |
| 4BR | $2,260 | $459,164 | 0.49% | F |
| 5BR | $2,622 | $593,983 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 45245, located in Cincinnati, Ohio, presents an interesting scenario for both renters and landlords. The median income in this area stands at $80,147, which provides a baseline for assessing housing affordability. At a market rate of $1,647 per month (ZORI), renting a home becomes a significant expense for most households.
To put this into perspective, let’s consider the financial burden on a typical household. Assuming a monthly income derived from the median of approximately $6,679 ($80,147 divided by 12 months), paying $1,647 for rent would consume roughly 25% of their gross monthly income. This figure aligns with the general guideline that housing costs should not exceed 30% of a household’s income. However, it leaves little room for other expenses and savings.
Comparatively, the Housing Choice Voucher program, commonly known as Section 8, offers a more affordable option. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 45245 is set at $1,250. This means that a household receiving a voucher could pay significantly less for rent, around 19% of their gross monthly income, making it easier to manage other living expenses.
In ZIP 45245, where 37.4% of the population are renters and the total population is 20,045, the affordability gap between market rates and voucher payments has a direct impact on landlord competition. Landlords who accept vouchers may attract tenants who find the market rate too high, but they must also be prepared to compete with those who prefer higher-paying cash tenants.
The takeaway for landlords is clear: accepting vouchers can open up a broader pool of potential tenants, particularly those who are price-sensitive due to the high cost of market-rate rents. However, the decision should be balanced against the benefits of having cash-paying tenants who might offer higher rental income. Landlords must carefully consider their strategy based on the local demand and their own financial goals.
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.