Section 8 Fair Market Rent (FMR) for ZIP 45405 - 2027

Location: Dayton-Kettering-Beavercreek, OH | Metro: Dayton-Kettering-Beavercreek, OH MSA

Investment Score for ZIP 45405

Monthly Rent (2BR)

$1,080

Median Price (2BR)

$78,361

1% Rule

1.38%

Annual Yield

16.54%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$790
1 Bedroom	$870
2 Bedrooms	$1,080
3 Bedrooms	$1,400
4 Bedrooms	$1,540
5 Bedrooms	$1,786
6 Bedrooms	$2,000
7 Bedrooms	$2,160
8 Bedrooms	$2,268

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,080	$78,361	1.38%	A
3BR	$1,400	$96,565	1.45%	A
4BR	$1,540	$131,526	1.17%	B
5BR	$1,786	$162,237	1.1%	B

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

18,955

Median Household Income

$43,973

Housing Units

11,695

Renter Percentage

64.0%

Occupancy Rate

76.1%

Renter Occupied

5,697

The ZIP code 45405, located in Dayton, Ohio, offers a unique blend of affordability and accessibility, making it an attractive location for both residents and investors. The area is characterized by a mix of residential neighborhoods, commercial spaces, and public amenities that cater to a diverse population.

The Fair Market Rent (FMR) for ZIP 45405 in fiscal year 2024 is set at $900, providing a benchmark for rental pricing that aligns with the economic realities of the region.
The actual market rent, as measured by Zillow's ZORI index, stands at $1,068, indicating a slight premium over the FMR and reflecting the demand for rental properties in the area.
The median home value in ZIP 45405 is $90,050, which is significantly lower than the national average, offering opportunities for affordable housing investments.
Renters make up 64.0% of the local housing market, suggesting a strong reliance on rental properties and a robust tenant base for landlords.
The days on market (DOM) for properties in this area is 26 days, which is relatively quick and signals a healthy turnover rate for real estate transactions.
The median household income in ZIP 45405 is $43,973, underscoring the need for affordable housing options and potentially limiting the ability of tenants to pay higher rents.

For landlords and small-portfolio investors, ZIP 45405 presents a balanced opportunity. With a median home value well below the national average and a significant portion of the population renting, there is a clear demand for affordable rental properties. However, investors must be mindful of the median income level, which may influence the maximum rent tenants can afford. The quick DOM suggests efficient property management can lead to rapid turnovers and steady cash flow. Aligning rental prices close to the ZORI while remaining competitive with the FMR will likely attract a stable tenant pool and maximize investment returns in this area.

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.