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Hamilton County/Cincinnati/45203

45203

ZIPSAFMR
Hamilton County, OH
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$880$970
1 BR$940$1,030
2 BR$1,200$1,320
3 BR$1,580$1,740
4 BR$1,780$1,960
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMR$1,200
Market rent$1,630
Est. payment standard (110%)Used$1,320
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.84
1 BR
0.70
2 BR
0.74
3 BR
0.75
4 BR
0.54
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 45203 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 45203 (Cincinnati, OH) is $1,200 a month. That is up 7.1% from $1,120 in FY 2026. Cincinnati 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 68 ZIP codes in Hamilton County, 45203 is tied for the 61st-highest two-bedroom rent (county range $1,040–$2,160). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 45203 is 15% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 45203
BedroomsFY 2027Change90–110% range
Studio$880+11.4%$792–$968
1BR$940+8.0%$846–$1,034
2BR$1,200+7.1%$1,080–$1,320
3BR$1,580+6.8%$1,422–$1,738
4BR$1,780+8.5%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 45203
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$880$940$1,200$1,580$1,780
FY 2026$790$870$1,120$1,480$1,640
FY 2025$730$830$1,080$1,430$1,590
FY 2024$660$760$990$1,320$1,490
FY 2023$580$670$880$1,180$1,340

Two-bedroom rent in nearby Hamilton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 45203
45201$1,400+16.7%
45202$2,160+80.0%
45203Current$1,200—
45204$1,120−6.7%
45205$1,230+2.5%
45206$1,310+9.2%
45207$1,310+9.2%
45208$1,760+46.7%
45209$1,880+56.7%
45211$1,210+0.8%
45212$1,430+19.2%
45213$1,310+9.2%

Questions about ZIP 45203 rents

How much will Section 8 pay for a two-bedroom in ZIP 45203?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,200, that basic range is $1,080 to $1,320 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 45203 in?

ZIP 45203 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 45203 for FY 2027?

The two-bedroom FMR rose 7.1%, from $1,120 in FY 2026 to $1,200 in FY 2027. Since FY 2023 it has risen 36.4%.

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