Location: Springfield, OH | Metro: Dayton-Kettering-Beavercreek, OH MSA
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 | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $200,640 | 0.56% | F |
| 3BR | $1,460 | $315,047 | 0.46% | F |
| 4BR | $1,590 | $432,842 | 0.37% | F |
U.S. Census Bureau data (2024)
Cedarville, OH's ZIP code 45314 is a residential area with a total population of 6,536, where 22.6% of residents are renters. The median household income in this ZIP code is $84,844, indicating a middle to upper-middle-class community. The median home value stands at $321,729, which reflects the overall stability and desirability of the housing market in the area.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 45314 in fiscal year 2024 is set at $880. This figure is slightly below the market rent of $894, as reported by the Census Bureau's American Community Survey (ACS). This close alignment between FMR and market rent suggests that landlords participating in the Section 8 program can expect to receive payments that are nearly equivalent to the market rate, minimizing financial risk and ensuring steady cash flow.
The question then arises: Is ZIP 45314 suitable for a hands-off voucher operator or a hands-on value-add buyer? Given the stable median income and home values, along with the near-parity between FMR and market rent, this area is well-suited for a hands-off operator. Landlords can rely on the predictability of Section 8 payments without significant risk of losing money compared to market rates. For value-add buyers looking to improve properties and increase rents beyond the FMR, the slight gap between FMR and market rent provides a modest opportunity to enhance returns through property upgrades and management efficiencies.
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.