Location: Preble 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 | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $164,275 | 0.63% | D |
| 3BR | $1,380 | $245,040 | 0.56% | F |
| 4BR | $1,470 | $324,850 | 0.45% | F |
U.S. Census Bureau data (2024)
West Alexandria, OH, located in Preble County and designated by ZIP code 45381, stands out with a population of 5,626 residents. The area has a relatively low rental rate at 20.1%, indicating that most residents prefer homeownership, which is further supported by the median home value of $234,280. However, the median income of $62,263 suggests that while homeownership is prevalent, it may be challenging for some residents to afford housing without assistance.
The voucher economics in West Alexandria provide a significant advantage to landlords and small-portfolio investors. The Fair Market Rent (FMR) for Section 8 vouchers in the ZIP code for fiscal year 2024 is set at $950, whereas the market rent, based on Census American Community Survey (ACS) data, is $756. This means that landlords who accept Section 8 vouchers can expect to receive a higher rent than the typical market rate, effectively subsidizing their properties and ensuring steady income.
The data signature for ZIP 45381 indicates a stable environment. With a consistent median income and home values, there is little evidence to suggest rapid changes in the economic landscape. Landlords and investors should find the current situation favorable, especially when considering the additional financial benefits provided by Section 8 vouchers. The higher FMR compared to the actual market rent offers an opportunity to maintain or even slightly increase rental rates while still attracting tenants through the voucher program. This stability and the potential for higher returns make West Alexandria a reliable investment location for those interested in the Section 8 market.
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.