Location: Springfield, OH | Metro: Springfield, 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 | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $196,018 | 0.56% | F |
| 3BR | $1,360 | $235,683 | 0.58% | F |
| 4BR | $1,560 | $310,296 | 0.5% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 45323, located in Enon, OH, within the Clark County and Springfield, OH MSA, reveals several key points. The HUD Fair Market Rent (FMR) for FY 2024 is set at $860, while the market rent, according to Census ACS data, stands at $867. This indicates that voucher tenants in this area will generally cashflow at the FMR rate, with only a marginal shortfall of $7 per unit.
To further understand the investment potential, consider the median home value in the area, which is $239,764. Using this figure, we can calculate the rent-to-price ratio. A simple calculation shows that the annual rent ($867 x 12 months) is approximately $10,404, leading to a rent-to-price ratio of about 4.3%. This suggests that rental income is relatively low compared to the cost of owning a property, indicating that appreciation might be a stronger factor for long-term investment success rather than immediate cashflow.
The dynamics between renting and buying in this market are also noteworthy. While the median Days on Market (DOM) and the percentage of homes that have experienced price cuts are not available, these metrics would typically help gauge the health of the housing market and how quickly properties sell. Given the close alignment between the HUD FMR and market rent, it's likely that the housing market is stable, with neither excessive price cuts nor unusually long DOM periods.
The strongest investor angle in ZIP 45323 appears to be stability. With voucher tenants cashflowing at the FMR rate and minimal market fluctuation, investors can expect consistent returns without the volatility often associated with other markets. Stability is crucial for those looking to build a reliable portfolio, especially when considering the low risk and predictable occupancy rates typical of Section 8 properties.
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.