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Hamilton County/Cincinnati/45251

45251

ZIPSAFMR
Hamilton County, OH
Zillow

ZIP Investment Score

172High yield potential

095130300
BRFMR
Eff. Rent
0 BR$1,280$1,090
1 BR$1,370$1,110
2 BR$1,750$1,510
3 BR$2,300$2,070
4 BR$2,600$2,110
5 BR$2,990Not available
6 BR$3,438Not available
7 BR$3,954Not available
8 BR$4,547Not available

Purchase Price Calculator

Maximum purchase price
$162,469

Cost breakdown

+Likely effective rent$1,510
HUD FMR$1,750
Market rentUsed$1,510
Est. payment standard (91%)$1,590
-Principal and interest-$822
Loan amount$129,975
Down payment$32,494
Rate6.50%
Term30 years
-Operating costs-$488
Property taxes-$162
Insurance-$175
Utilities$0
HOA$0
Management-$151
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,349(74.9% ROI)
Projected value
$174,961
Return breakdown
Property appreciation+$12,492
Loan principal paid down+$4,657
Rental cash flow+$7,200
5-year hold
+$41,654(128.2% ROI)
Projected value
$183,819
Return breakdown
Property appreciation+$21,350
Loan principal paid down+$8,304
Rental cash flow+$12,000
10-year hold
+$89,292(274.8% ROI)
Projected value
$207,974
Return breakdown
Property appreciation+$45,505
Loan principal paid down+$19,787
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.17
1 BR
1.23
2 BR
1.16
3 BR
1.11
4 BR
1.23
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 45251 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 45251 (Cincinnati, OH) is $1,750 a month. That is up 7.4% from $1,630 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, 45251 has the 11th-highest two-bedroom rent (county range $1,040–$2,160). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 45251 is 67% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 45251
BedroomsFY 2027Change90–110% range
Studio$1,280+11.3%$1,152–$1,408
1BR$1,370+7.9%$1,233–$1,507
2BR$1,750+7.4%$1,575–$1,925
3BR$2,300+7.0%$2,070–$2,530
4BR$2,600+9.2%$2,340–$2,860

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 45251
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,280$1,370$1,750$2,300$2,600
FY 2026$1,150$1,270$1,630$2,150$2,380
FY 2025$1,060$1,200$1,550$2,060$2,270
FY 2024$960$1,080$1,410$1,870$2,080
FY 2023$850$970$1,270$1,700$1,910

Two-bedroom rent in nearby Hamilton County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 45251
45244$1,470−16.0%
45246$1,660−5.1%
45247$1,400−20.0%
45248$1,400−20.0%
45249$1,910+9.1%
45250$1,400−20.0%
45251Current$1,750—
45252$1,260−28.0%
45253$1,400−20.0%
45254$1,400−20.0%
45255$1,700−2.9%
45258$1,400−20.0%

Questions about ZIP 45251 rents

How much will Section 8 pay for a two-bedroom in ZIP 45251?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,750, that basic range is $1,575 to $1,925 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 45251 in?

ZIP 45251 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 45251 for FY 2027?

The two-bedroom FMR rose 7.4%, from $1,630 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 37.8%.

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