Location: Springfield, 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 | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $173,803 | 0.58% | F |
| 3BR | $1,240 | $273,222 | 0.45% | F |
| 4BR | $1,430 | $371,467 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 45368, located in South Charleston, OH, represents a modest-sized community with a population of 3,889 residents. Among these, 28.5% are renters, indicating that this area has a significant but not overwhelming tenant base. The median household income in this ZIP stands at $60,850, which provides context for understanding the economic landscape.
The market rent in this area is $733 per month, representing a substantial portion of the average income. Specifically, typical rent consumes approximately 14.3% of the median monthly income when calculated on an annual basis. This percentage suggests that while rent is a considerable expense, it remains within a reasonable range relative to local incomes.
Comparatively, the Fair Market Rent (FMR) for the area, set at $880 per month for FY 2024, is higher than the current market rent. This indicates that there might be some room for rent increases, but also highlights that the current market rent is below the government's benchmark for affordability. The difference between the market rent and the FMR suggests that landlords could potentially adjust their rents upward without significantly deterring tenants who rely on rental assistance programs.
In terms of Section 8 voucher demand, the presence of a sizeable renting population combined with the lower market rent compared to the FMR points towards a moderate demand for housing subsidies. Landlords in this area should anticipate tenants who are likely to be financially constrained, relying heavily on rental assistance programs such as Section 8 to cover their housing costs. These tenants would typically have household incomes below the median, possibly around or below the poverty line, necessitating the use of vouchers to secure affordable housing.
To conclude, ZIP 45368 is neither a renter-heavy nor a homeowner-dominated area, but rather a balanced community with a notable tenant population. The expected tenant profile includes individuals and families who are economically disadvantaged and require rental assistance to afford living spaces. Landlords should prepare for tenants who will rely on Section 8 vouchers to meet their housing needs, keeping in mind the financial constraints these tenants face.
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.