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Hamilton County/Cincinnati/45227

45227

ZIPSAFMR
Hamilton County, OH
Zillow

ZIP Investment Score

128Above average

095130300
BRFMR
Eff. Rent
0 BR$1,170$1,240
1 BR$1,260$1,390
2 BR$1,610$1,770
3 BR$2,120$2,300
4 BR$2,390$2,630
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$201,105

Cost breakdown

+Likely effective rent$1,770
HUD FMR$1,610
Market rent$1,860
Est. payment standard (110%)Used$1,770
-Principal and interest-$1,017
Loan amount$160,884
Down payment$40,221
Rate6.50%
Term30 years
-Operating costs-$553
Property taxes-$201
Insurance-$175
Utilities$0
HOA$0
Management-$177
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,427(70.7% ROI)
Projected value
$216,568
Return breakdown
Property appreciation+$15,463
Loan principal paid down+$5,764
Rental cash flow+$7,200
5-year hold
+$48,706(121.1% ROI)
Projected value
$227,532
Return breakdown
Property appreciation+$26,427
Loan principal paid down+$10,279
Rental cash flow+$12,000
10-year hold
+$104,819(260.6% ROI)
Projected value
$257,431
Return breakdown
Property appreciation+$56,326
Loan principal paid down+$24,493
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.92
1 BR
0.83
2 BR
0.87
3 BR
0.89
4 BR
0.80
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 45227 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 45227 (Cincinnati, OH) is $1,610 a month. That is up 4.5% from $1,540 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, 45227 has the 17th-highest two-bedroom rent (county range $1,040–$2,160). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 45227 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 45227
BedroomsFY 2027Change90–110% range
Studio$1,170+7.3%$1,053–$1,287
1BR$1,260+5.0%$1,134–$1,386
2BR$1,610+4.5%$1,449–$1,771
3BR$2,120+4.4%$1,908–$2,332
4BR$2,390+6.2%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 45227
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,170$1,260$1,610$2,120$2,390
FY 2026$1,090$1,200$1,540$2,030$2,250
FY 2025$1,000$1,130$1,460$1,940$2,140
FY 2024$940$1,060$1,380$1,830$2,040
FY 2023$860$980$1,280$1,710$1,930

Two-bedroom rent in nearby Hamilton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 45227
45220$1,470−8.7%
45222$1,400−13.0%
45223$1,230−23.6%
45224$1,220−24.2%
45225$1,140−29.2%
45226$1,620+0.6%
45227Current$1,610—
45229$1,190−26.1%
45230$1,290−19.9%
45231$1,590−1.2%
45232$1,040−35.4%
45233$1,220−24.2%

Questions about ZIP 45227 rents

How much will Section 8 pay for a two-bedroom in ZIP 45227?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,610, that basic range is $1,449 to $1,771 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 45227 in?

ZIP 45227 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 45227 for FY 2027?

The two-bedroom FMR rose 4.5%, from $1,540 in FY 2026 to $1,610 in FY 2027. Since FY 2023 it has risen 25.8%.

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