Section 8 Fair Market Rent (FMR) for ZIP 44030 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 44030

• Ashtabula Metropolitian Housing Authority (Ashtabula, OH) - 558 Section 8 vouchers

The ZIP code 44030 encompasses Conneaut, Ohio, a town situated along Lake Erie's shores. Known for its picturesque views and close-knit community, Conneaut offers a unique blend of rural charm and lakefront living. This analysis will delve into the key metrics that define the real estate landscape in Conneaut, providing insights particularly relevant for Section 8 landlords and small-portfolio investors.

• The Fair Market Rent (FMR) for ZIP 44030, as determined by HUD for the fiscal year 2026, stands at $970. This figure represents the average rent price for a two-bedroom apartment in the area, offering a benchmark for rental properties seeking to qualify under the Section 8 program.
• According to the Census Bureau's American Community Survey (ACS), the market rent for ZIP 44030 is currently $774. This indicates that the average rent for a typical two-bedroom unit in the area is below the FMR, suggesting potential opportunities for landlords to adjust their pricing to align with Section 8 standards without significantly deviating from local norms.
• The median home value in Conneaut is $150,789. This relatively low figure can be advantageous for investors looking to acquire properties at a lower cost compared to more affluent areas, while still maintaining a competitive edge in terms of rental demand.
• Renters constitute 23.9% of the population in ZIP 44030. This percentage suggests a moderate demand for rental housing, indicating that there is a steady but not overwhelming number of tenants who might benefit from Section 8 assistance.
• The median income in the area is $63,533. This level of income supports a viable tenant pool for affordable housing options, including those supported by Section 8 subsidies.
• Data on days on market (DOM) is not available, which could indicate a stable market where properties are either sold quickly or remain listed for extended periods without significant fluctuations. This stability can be beneficial for long-term investment strategies.

Synthesizing these points, investors in Conneaut, OH, can expect a market where the potential for Section 8 rentals is present, given the alignment between market rents and FMRs. The median home value provides a cost-effective entry point for property acquisition, while the median income supports a sustainable tenant base. The moderate renter share suggests a balanced market, neither oversaturated nor underserved by rental properties. Overall, the area presents a stable environment conducive to long-term investments, particularly for those interested in affordable housing solutions.

Data Sources: FMR data from HUD (2027). 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.