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Warren County/Middletown/45044

45044

ZIPSAFMR
Warren County, OH
Zillow

ZIP Investment Score

97Above average

095130300
BRFMR
Eff. Rent
0 BR$960$840
1 BR$1,030$1,010
2 BR$1,310$1,180
3 BR$1,720$1,440
4 BR$1,940$2,100
5 BR$2,231Not available
6 BR$2,566Not available
7 BR$2,950Not available
8 BR$3,393Not available

Purchase Price Calculator

Maximum purchase price
$113,431

Cost breakdown

+Likely effective rent$1,180
HUD FMR$1,310
Market rentUsed$1,180
Est. payment standard (94%)$1,230
-Principal and interest-$574
Loan amount$90,745
Down payment$22,686
Rate6.50%
Term30 years
-Operating costs-$406
Property taxes-$113
Insurance-$175
Utilities$0
HOA$0
Management-$118
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,173(84.5% ROI)
Projected value
$122,153
Return breakdown
Property appreciation+$8,722
Loan principal paid down+$3,251
Rental cash flow+$7,200
5-year hold
+$32,703(144.2% ROI)
Projected value
$128,337
Return breakdown
Property appreciation+$14,906
Loan principal paid down+$5,798
Rental cash flow+$12,000
10-year hold
+$69,585(306.7% ROI)
Projected value
$145,201
Return breakdown
Property appreciation+$31,770
Loan principal paid down+$13,815
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.14
1 BR
1.02
2 BR
1.11
3 BR
1.19
4 BR
0.89
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 45044 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 45044 (Middletown, OH) is $1,310 a month. That is up 6.5% from $1,230 in FY 2026. Middletown is in the Cincinnati, OH-KY-IN HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 24 ZIP codes in Warren County, 45044 has the 19th-highest two-bedroom rent (county range $1,120–$2,160). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 45044 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 45044
BedroomsFY 2027Change90–110% range
Studio$960+10.3%$864–$1,056
1BR$1,030+7.3%$927–$1,133
2BR$1,310+6.5%$1,179–$1,441
3BR$1,720+6.2%$1,548–$1,892
4BR$1,940+7.8%$1,746–$2,134

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 45044
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$960$1,030$1,310$1,720$1,940
FY 2026$870$960$1,230$1,620$1,800
FY 2025$800$900$1,170$1,550$1,710
FY 2024$750$850$1,110$1,480$1,640
FY 2023$690$790$1,030$1,380$1,550

Two-bedroom rent in nearby Warren County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 45044
45032$1,160−11.5%
45034$2,030+55.0%
45036$1,440+9.9%
45039$2,100+60.3%
45040$2,160+64.9%
45042$1,280−2.3%
45044Current$1,310—
45050$1,950+48.9%
45054$1,530+16.8%
45065$1,890+44.3%
45066$2,000+52.7%
45068$1,740+32.8%

Questions about ZIP 45044 rents

How much will Section 8 pay for a two-bedroom in ZIP 45044?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,310, that basic range is $1,179 to $1,441 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 45044 in?

ZIP 45044 is in the Cincinnati, OH-KY-IN HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 45044 for FY 2027?

The two-bedroom FMR rose 6.5%, from $1,230 in FY 2026 to $1,310 in FY 2027. Since FY 2023 it has risen 27.2%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentMiddletown, OH fair market rentOH statewide rentsWhat is SAFMR?Data sources