Location: Springfield, OH | Metro: Dayton-Kettering-Beavercreek, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
ZIP code 45316, located within the Springfield, OH MSA, is an ideal diversifier for a Section 8 portfolio strategy. The median income of $83,125 suggests that there is a mix of economic backgrounds among residents, which can help stabilize a portfolio by reducing the risk associated with high unemployment rates or economic downturns.
A significant 20.0% of the households in this ZIP code are renters, indicating a robust demand for rental properties. This high renter share means that there will likely be consistent interest in Section 8 housing, making it a reliable component of a diversified investment strategy.
While the cash-flow potential is modest, with the Fair Market Rent (FMR) for FY 2024 at $910 and the market rent at $867, the spread of $43 does not significantly impact overall portfolio performance. It's important to note that the median home value is not available, which limits insights into long-term appreciation potential.
The lack of available data on price-cut share and days on market (DOM) indicates that this ZIP code is not particularly suited as an appreciation play. However, the primary focus should be on the diversification benefits it offers. By including ZIP 45316 in your portfolio, you can ensure a balanced mix of income sources and reduce dependency on any single economic factor.
To summarize, ZIP 45316 serves best as a diversifier due to its substantial renter population and moderate income levels, providing stability and consistent demand for Section 8 housing units.
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.