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 | $930 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $200,162 | 0.64% | D |
| 3BR | $1,670 | $259,203 | 0.64% | D |
| 4BR | $1,820 | $359,648 | 0.51% | F |
| 5BR | $2,111 | $484,504 | 0.44% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP 45429, located in Kettering, OH, reveal a market in motion, characterized by specific rental and homeownership metrics. The Fair Market Rent (FMR) for the area stands at $1040 for the fiscal year 2024, while the Zillow Observed Rent Index (ZORI) indicates a higher average market rent of $1,673. This suggests that the rental market is robust and potentially under slight pressure, as the market rate significantly exceeds the government-set FMR.
A key indicator of the rental market's strength is the 30.2% renter share. This figure implies that nearly one-third of the households in Kettering prefer or are compelled to rent, which can be indicative of long-term housing pressure. A high renter share often points to either affordability issues or a preference for renting over buying, both of which can sustain demand for rental properties. Landlords and small-portfolio investors should recognize this as a sign of consistent demand for rental units, despite fluctuations in the broader housing market.
The median home value in Kettering is $272,734, reflecting the overall cost of homeownership in the area. However, the 0.2% price-cut share and 14-day days on market (DOM) suggest that the housing market is relatively stable and efficient. Sellers are not heavily discounting their homes, and they are selling quickly, indicating that supply and demand are closely aligned. This balance is crucial for maintaining property values and ensuring that investments in Kettering remain profitable.
In summary, ZIP 45429 presents a market where demand for rentals is strong, driven by a significant portion of renters who likely face affordability challenges or prefer flexibility. Meanwhile, the homeownership market shows signs of stability, with homes selling close to asking price and within a reasonable timeframe. For landlords and small-portfolio investors, these factors point to a market where rental properties are likely to perform well, given the sustained demand and efficient sales dynamics of the homeownership segment.
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.