Location: Dayton-Kettering-Beavercreek, 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 | $850 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $122,831 | 0.77% | D |
| 2BR | $1,170 | $186,751 | 0.63% | D |
| 3BR | $1,520 | $271,087 | 0.56% | F |
| 4BR | $1,660 | $407,025 | 0.41% | F |
| 5BR | $1,926 | $547,147 | 0.35% | F |
U.S. Census Bureau data (2024)
ZIP code 45373, located in Troy, OH, falls within the larger Dayton-Kettering-Beavercreek, OH MSA metro area. To understand its position relative to other ZIP codes in this metro, let's examine the specific figures provided: the Fair Market Rent (FMR) for ZIP 45373 in fiscal year 2024 is set at $980, while the market rent stands at $1,415. The median home value is $280,666, and 28.7% of residents are renters.
The FMR of $980 in ZIP 45373 is notably lower than the market rent of $1,415, indicating that there is a significant gap between government-assisted rental rates and what the market demands. This suggests that landlords participating in the Section 8 program within this ZIP might find it challenging to cover their costs with the subsidy alone, unless they manage to negotiate higher utility allowances or other additional payments. However, the lower FMR also implies that the area is potentially more affordable for low-income households, which could be beneficial for landlords seeking stable tenants who are less likely to default on rent due to financial constraints.
The median home value of $280,666 in ZIP 45373 is relatively modest compared to the broader Dayton-Kettering-Beavercreek, OH MSA, where home values can vary widely but generally trend higher. This figure suggests that 45373 leans towards being a value pocket within its metro, offering homeownership opportunities at a lower price point than many neighboring areas.
The 28.7% renter share in ZIP 45373 is a key indicator for landlords and small-portfolio investors. It signals a moderate demand for rental properties, neither overwhelmingly high nor low. When combined with the lower FMR and home values, this suggests that Troy, OH, could be an attractive location for landlords interested in serving a mix of market-rate and subsidized tenants. The relatively high renter share coupled with below-average home values often points to a sweet spot for Section 8 participation, where rental properties are more accessible and affordable for those receiving housing assistance.
In summary, ZIP 45373 presents itself as a value pocket within the Dayton-Kettering-Beavercreek, OH MSA, characterized by lower FMR and home values, yet with a notable renter share. This positioning makes it a viable option for landlords and investors looking to balance market-rate rents with participation in the Section 8 program.
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.