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 | $1,040 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,180 | $129,963 | 0.91% | C |
| 2BR | $1,430 | $187,359 | 0.76% | D |
| 3BR | $1,830 | $261,789 | 0.7% | D |
| 4BR | $1,970 | $377,947 | 0.52% | F |
| 5BR | $2,285 | $444,965 | 0.51% | F |
U.S. Census Bureau data (2024)
Mentor, Ohio (44060) functions as a quintessential suburban hub within the Cleveland metro area, characterized by its balance of residential neighborhoods and commercial retail corridors. The city is a major draw for families due to its robust park system and proximity to Headlands Beach State Park. Economically, the area benefits from a stable mix of healthcare and manufacturing employers, with Lake Health constituting a significant institutional presence that provides steady local employment. This suburban stability generally translates into well-maintained properties and neighborhoods that appeal to long-term residents.
From an investment standpoint, the numbers reveal a challenging spread for voucher holders. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is set at $1,440 for FY2026, while current market rents (Zillow ZORI) sit higher at $1,515. This creates a gap of $75 per month, meaning the standard voucher covers roughly 95% of the going market rate. Investors looking to acquire will find median home values at $271,685, with specific 2-bedroom properties trading around a median of $180,441. Inventory moves at a moderate pace, with a median of 42 days on market, indicating a stable but not overheated selling environment.
The tenant pool is bolstered by solid local economics, as the median household income stands at $87,599. However, only 18.2% of the population are renters, suggesting a competitive landscape where quality units are in high demand among the smaller renter demographic. This lower renter share, combined with above-average median incomes, implies that prospective Section 8 tenants likely have stable supplementing income or are prioritizing the Mentor School District, which is highly rated and a major driver for families moving to the area.
The Section 8 verdict for Mentor 44060 leans toward appreciation and stability rather than aggressive cash flow. Because the HUD FMR lags slightly behind the market rent by $75, investors should not rely on the voucher alone to capture top-dollar yields. Instead, the strongest angle here is asset appreciation in a high-income suburb with low rental saturation. The high median home value and quality school ratings suggest that properties purchased near the median 2BR price of $180,441 are likely to appreciate steadily, provided the investor is comfortable accepting a modest rent discount relative to the open market.
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.