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 | $1,110 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $288,631 | 0.53% | F |
| 3BR | $1,960 | $343,249 | 0.57% | F |
| 4BR | $2,110 | $463,443 | 0.46% | F |
| 5BR | $2,448 | $559,123 | 0.44% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP 44026, Chesterland, OH, in the Cleveland, OH HUD Metro FMR Area for fiscal year 2024 is set at $1480. In contrast, the Census ACS data indicates that the average market rent for the same area is significantly lower at $909. This discrepancy means that voucher tenants would generate positive cash flow for landlords and small-portfolio investors, even when accounting for the typical costs associated with maintaining and managing rental properties.
To provide context, the median home value in Chesterland is $367,671. Using this figure, we can calculate the rent-to-price ratio, which stands at approximately 0.25%. This ratio suggests that the rental market is relatively stable and competitive, given the higher FMR compared to actual market rents. However, it's important to note that the median Days on Market (DOM) and the percentage of homes that have experienced price cuts are not available for this area, indicating a lack of recent data on how quickly homes are selling and at what price adjustments.
The strongest investor angle in Chesterland, OH, is likely to be cash flow. Given the high HUD FMR relative to the market rent, landlords can expect to receive a steady income from voucher tenants, surpassing the average market rent by a significant margin. This makes it an attractive option for those looking to generate consistent revenue through rental properties.
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.