Location: Cleveland, OH | Metro: Cleveland, OH 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 | $920 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,050 | $94,593 | 1.11% | B |
| 2BR | $1,270 | $185,872 | 0.68% | D |
| 3BR | $1,620 | $241,957 | 0.67% | D |
| 4BR | $1,750 | $299,510 | 0.58% | F |
| 5BR | $2,030 | $310,804 | 0.65% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44017, Berea, OH, in fiscal year 2024 is set at $1,110. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, which is designed to help low-income families afford housing. It's important to note that this is not the actual rent you'll receive; it's the payment standard used by the Housing Choice Voucher program to determine the subsidy amount.
In comparison, the local Zillow Observed Rent Index (ZORI) for Berea, OH, is currently at $1,257. This indicates that the market rent is slightly higher than the Section 8 payment standard. Therefore, landlords who participate in the Section 8 program in this area will likely need to accept a lower rent than what the market could offer.
The demand for rental properties in Berea, OH, is strong, with 27.1% of residents being renters. This suggests that there is a significant portion of the population who rely on rentals, including those who might qualify for the Section 8 program. Given the local median home value of $239,211, acquiring a property in this area would be a substantial investment. However, the steady demand for rental units, especially among those seeking assistance through Section 8, can provide a reliable source of income.
Before committing to a Section 8 rental, it's crucial to verify that your property meets all the necessary requirements set by the local housing authority. These requirements typically include standards for health, safety, and habitability. Ensuring compliance will not only make your property eligible for the program but also reduce the risk of future disputes or non-renewals.
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.