Location: Cincinnati, OH | Metro: Cincinnati, OH-KY-IN HUD Metro FMR Area
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 | $860 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $334,730 | 0.35% | F |
| 3BR | $1,550 | $407,313 | 0.38% | F |
| 4BR | $1,690 | $478,248 | 0.35% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 47022, Guilford, Indiana, for fiscal year 2024 is set at $1000. This figure represents the payment standard for Section 8 rentals in the area, which is the amount the government will pay toward rent for eligible tenants. It's important to note that this does not mean you must charge exactly $1000 for your rental property; it serves as a guideline to ensure that rents are reasonable.
When comparing this to the local market, there is no specific local rent data available, indicated by "N/A". However, the FMR can still be used as a benchmark to gauge the competitiveness of your rental rates. If you aim to charge more than $1000, ensure that your property justifies the higher price with better amenities or condition.
The 1.7% renter share indicates that a significant portion of the population in Guilford relies on rental housing. This suggests a steady demand for rental properties, particularly those that qualify under the Section 8 program. With a substantial number of potential tenants, you can expect a relatively high occupancy rate once your property is approved.
To understand the financial viability of acquiring a rental property in Guilford, consider the median home value of $414,767. This figure reflects the typical cost of purchasing a home in the area. Given the FMR of $1000, you can calculate the expected monthly income from a Section 8 tenant. For instance, if you purchase a home at the median value, you would be receiving $1000 per month from the government for a qualifying unit, assuming the tenant pays the remaining portion of the rent.
Before proceeding with your first Section 8 rental in Guilford, make sure to verify that your property meets all the necessary physical standards and safety requirements set by the Housing Authority. These standards include items such as electrical wiring, plumbing, heating systems, and structural integrity. Ensuring compliance with these regulations will help you avoid costly repairs and delays in getting your property approved for the program.
In summary, the FMR of $1000 provides a solid foundation for understanding the rental market in Guilford, Indiana. With a strong demand indicated by the 1.7% renter share and a median home value of $414,767, investing in a Section 8 rental can be a financially sound decision. Just ensure your property is up to code to maximize your chances of success.
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.