Location: Ashtabula County, OH | Metro: Ashtabula County, 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 | $700 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $188,403 | 0.53% | F |
| 3BR | $1,230 | $243,020 | 0.51% | F |
| 4BR | $1,400 | $248,184 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 44048, located in Kingsville, OH, presents an interesting balance between yield and stability. On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, while the local market rent stands at $929. The median home value in the area is $218,092, which indicates that rental properties can offer a higher return compared to owning a property outright. This is because the rental income is relatively close to the FMR but below the market rent, suggesting potential for above-average returns if managed effectively.
Moving to the stability axis, the rental market in Kingsville appears less robust. Only 9.9% of the population are renters, which is a low figure and implies a smaller pool of potential tenants. Additionally, the median household income is $78,690, which could affect the ability of residents to pay higher rents, thereby impacting the demand for rental properties. The lack of data on days on market (DOM) makes it challenging to assess how quickly properties can be rented out once they become available.
Given these factors, ZIP 44048 leans towards being a moderate-stability, moderate-yield market. The slightly lower market rent compared to the FMR suggests opportunities for competitive pricing, but the low percentage of renters and modest income levels indicate that there might be limitations on how much rent can be charged without deterring potential tenants. For landlords and small-portfolio investors, this means that while there is potential for decent cash flow, careful tenant selection and possibly offering amenities or services that enhance desirability will be key to maintaining occupancy rates and achieving steady returns.
To summarize, the rental yield in Kingsville is promising with the potential for rents around $929, but the market's stability is questionable due to the low rental population and average income levels. Investors should proceed with a strategic approach, focusing on property management practices that can attract and retain tenants in a competitive environment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.