Location: Darke County, 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 | $1,050 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $187,386 | 0.75% | D |
| 3BR | $1,850 | $266,707 | 0.69% | D |
| 4BR | $1,990 | $378,746 | 0.53% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 45337 in Laura, Ohio, reveals two distinct scenarios based on the Fair Market Rent (FMR) and market rent figures.
Annualizing the 2BR FMR of $1000 for fiscal year 2024 yields an annual rental income of $12,000. Given the median home value of $250,956, this translates into an implied gross yield of approximately 4.78%. The calculation is straightforward: $12,000 annual income divided by $250,956 median home value equals 0.0478, or 4.78%.
In contrast, using the market rent figure of $1,250 derived from the Census ACS, the annual rental income would be $15,000. This results in a significantly higher implied gross yield of about 5.98%, calculated by dividing $15,000 by $250,956.
The gross yield difference between these two scenarios is notable, with the market rent scenario providing nearly a full percentage point more yield than the FMR scenario. However, considering the renter density of only 9.6% in Laura, OH, it is more realistic to anticipate that a substantial portion of the housing stock is owner-occupied rather than rented. This suggests that landlords might face challenges in attracting tenants willing to pay the higher market rent rate.
Furthermore, the N/A-day Days on Market (DOM) indicates either a very competitive rental market or an underdeveloped dataset, making it difficult to gauge how quickly properties can be leased at the higher rate. In such a situation, landlords should expect to rely more heavily on the FMR rate, which aligns better with the financial support available through the Section 8 program.
Given these factors, while the higher market rent offers a more attractive gross yield, the lower FMR rate is likely to reflect the actual rental income landlords can expect in ZIP 45337. Therefore, investors should plan their acquisitions and investments with the understanding that a gross yield closer to 4.78% is more probable in this area.
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.