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 | $980 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $62,498 | 2.16% | A+ |
| 3BR | $1,760 | $74,965 | 2.35% | A+ |
| 4BR | $1,920 | $98,744 | 1.94% | A+ |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 45402 in Dayton, OH, for fiscal year 2024 is set at $1,050. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you will receive; rather, it's the benchmark used by the Department of Housing and Urban Development (HUD) to determine the highest rent allowed for subsidized housing.
In comparison, the local market rent for a two-bedroom apartment in ZIP 45402 is $1,396 according to the Zillow Observed Rental Index (ZORI). This suggests that the FMR is below the average market rate, which means you might need to adjust your expectations for rental income if you're entering the Section 8 market.
The demand for rentals in ZIP 45402 is strong, with 64.1% of the population being renters. This high percentage indicates a robust rental market, but also implies that there are many people seeking affordable housing options. The median household income in the area is approximately $74,932, which can be useful when considering the potential acquisition cost of a property for Section 8 tenants.
Before you commit to offering your property under the Section 8 program, verify that your proposed rent does not exceed the $1,050 FMR limit. This ensures compliance with HUD guidelines and maximizes the chances of securing a tenant through the voucher system. While the FMR may seem lower than the local market rate, the stability and reliability of Section 8 payments can be beneficial for landlords and small-portfolio investors looking for consistent income.
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.