Location: Cincinnati, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,080 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The ZIP code 45267 presents an interesting scenario when analyzed from the perspective of renters participating in the Section 8 housing program. Given that the median income is listed as N/A, it suggests incomplete data regarding the financial status of the households in this area. However, focusing on the voucher payment standard, which stands at Fair Market Rent (FMR) of $1150 for the fiscal year 2024, we can draw some insights.
The market rate for rentals in ZIP 45267 is also listed as N/A, indicating a lack of comprehensive data on local rental prices. Despite this limitation, comparing the voucher payment standard to potential market rates can reveal the affordability gap faced by renters. If the actual market rate were higher than the $1150 voucher amount, it would create a significant challenge for tenants relying solely on vouchers to cover their rent.
With N/A% of residents being renters and a total population of 2, the competition among landlords could be quite intense. The affordability gap, where the market rate exceeds the voucher amount, means that landlords might have to adjust their rental prices to attract voucher holders. This adjustment could impact their overall profitability, especially if they are managing a small portfolio of properties.
The takeaway for landlords considering whether to accept voucher tenants or focus on cash-paying residents is clear. While accepting voucher tenants ensures a steady, government-backed income, it may limit the rental price to the FMR of $1150. On the other hand, targeting cash-paying residents could potentially lead to higher rents but requires navigating a competitive market and possibly dealing with higher vacancy rates if the local economy struggles to support higher rental costs.
In summary, landlords in ZIP 45267 must weigh the benefits of guaranteed income from voucher tenants against the potential for higher profits from cash-paying residents, all while considering the incomplete data on median income and market rates. The decision should be based on a thorough understanding of the local rental market dynamics and the financial capabilities of the local tenant pool.
Data Sources: FMR data from HUD (2027). 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.