Location: Shelby 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 | $840 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $96,427 | 0.97% | C |
| 2BR | $1,160 | $135,370 | 0.86% | C |
| 3BR | $1,510 | $192,223 | 0.79% | D |
| 4BR | $1,650 | $248,474 | 0.66% | D |
| 5BR | $1,914 | $334,372 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 45356, Piqua, Ohio, for fiscal year 2024 is set at $990. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; it's the ceiling on what you can charge for a Section 8 tenant.
In contrast, the local ZORI (Zillow Observed Rental Index) for the same area is $1,150. This indicates the average market rent for a typical rental unit in Piqua. Therefore, if you're considering a Section 8 rental, you'll be setting your rent below the market rate, which could affect your income compared to non-subsidized rentals.
The 29.4% renter share suggests that nearly 30% of the households in Piqua are renters, indicating a solid demand for rental properties. However, the FMR being lower than the market rent means that Section 8 tenants might find it challenging to afford higher rents, even though the demand exists.
If you're looking to acquire a property in this area, the median home value is approximately $180,326. This gives you an idea of the potential investment required to enter the Section 8 market in Piqua. Keep in mind that the property must meet certain criteria to be eligible for the program, such as being safe, decent, and sanitary.
Before proceeding with a Section 8 rental, ensure that your property meets the Housing Quality Standards (HQS). These standards are designed to ensure that the housing is livable and up to code. Failure to meet these standards can result in disqualification from the program.
In summary, the FMR of $990 means you'll be receiving less than the market rent of $1,150, but there's a significant demand for rental units. The median home value of $180,326 provides a benchmark for your investment. Verify that your property meets HQS to avoid any issues once you've made your decision.
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.