Location: Champaign 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 | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $185,417 | 0.59% | F |
| 3BR | $1,360 | $203,177 | 0.67% | D |
| 4BR | $1,550 | $314,910 | 0.49% | F |
| 5BR | $1,798 | $417,160 | 0.43% | F |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $940 for ZIP 45344 in fiscal year 2024 can cover the mortgage on a home priced at $213,851. Using a standard 30-year fixed-rate mortgage with a 7% interest rate and a 15% down payment, the monthly mortgage payment would be approximately $1,200. Therefore, the FMR of $940 would not fully cover the mortgage payment, leaving a shortfall of around $260.
The investor could also be concerned about the level of renter demand in ZIP 45344, which stands at 18.5%. According to recent housing market data, the median housing rent payment in this region is $753 per month, suggesting that the actual renter demand may be higher than the reported figure. However, it's important to note that the reported demand does not necessarily reflect the entire market; other factors such as property type, condition, and amenities can influence occupancy rates.
Another objection might be whether the voucher program will keep pace with the market rents of $880. While the FMR for ZIP 45344 is set at $940, the typical rent for a 1-bedroom unit has increased by 5.2% over the past year, reaching $892 per month. This indicates that the voucher program is likely to remain close to the market rents, but there's no guarantee it will perfectly match future increases.
In summary, while the FMR of $940 won't cover the full mortgage payment on a $213,851 home, the renter demand appears to be robust, and the voucher program should remain competitive with market rents. Investors should consider these factors alongside others, such as property management costs and local economic conditions, when evaluating opportunities in ZIP 45344.
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.