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 | $830 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,580 |
| 5 Bedrooms | $1,833 |
| 6 Bedrooms | $2,053 |
| 7 Bedrooms | $2,217 |
| 8 Bedrooms | $2,328 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $230,138 | 0.5% | F |
| 3BR | $1,470 | $297,048 | 0.49% | F |
| 4BR | $1,580 | $379,509 | 0.42% | F |
| 5BR | $1,833 | $412,901 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44021, Burton, Ohio, for fiscal year 2024 is set at $1110. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, the Housing Authority will pay up to this amount per month for a voucher holder's rent. However, it does not dictate the rent you can charge; it is merely the maximum subsidy they will provide.
To put this into perspective, the average rent for properties in Burton, Ohio, according to recent Census data (ACS), is $959. This suggests that the FMR is slightly above the market rate, which could be beneficial for landlords participating in the Section 8 program. It means you can potentially charge a bit more than the typical market rent without the tenant having to cover the difference out-of-pocket.
The local demand for rentals is high, with 18.7% of residents being renters. This indicates a significant portion of the population looking for housing, making it a good time to consider entering the rental market, especially with Section 8 tenants.
If you're thinking about purchasing a property to use as a Section 8 rental, the median home value in Burton, Ohio, stands at $288,410. This is the price range you should expect when acquiring a new rental property. Given the FMR and the local average rent, you can anticipate a reasonable return on your investment while providing affordable housing options.
Before you commit to a Section 8 rental property, ensure that the property meets all the required quality standards set by the Housing Authority. This includes passing a thorough inspection to confirm that it is safe, decent, and sanitary for occupancy. Once these conditions are met, you can confidently proceed with the acquisition and leasing process, knowing you have a solid foundation for your investment.
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.