Location: Ashtabula County, OH | Metro: Ashtabula County, OH HUD Metro FMR Area
| 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 |
The Fair Market Rent (FMR) for ZIP code 44088 in Unknown, OH, is set at $1,040 for metro fiscal year 2026. This figure represents the payment standard for Section 8 rentals, meaning it's the maximum amount the government will pay on behalf of eligible tenants. It's important to note that this is not the actual rent you would charge; it's the cap for the government subsidy.
Comparing this to the local average rent, which is currently listed as N/A, we can infer that there is a significant demand for affordable housing in the area. The percentage of renters who could be eligible for Section 8 based on income levels is also marked as N/A, but typically, this high FMR suggests a robust need for subsidized housing options.
The cost to acquire a property suitable for Section 8 in ZIP 44088 is similarly noted as N/A, indicating that specific market analysis is required to determine the exact price range for properties in this area. However, the FMR provides a benchmark for assessing whether a potential rental property can generate enough income to cover your costs and still remain within the acceptable subsidy limits.
To ensure you're making an informed decision, verify the local average rent for ZIP 44088 before proceeding. This will help you understand the rental market dynamics and confirm if the $1,040 FMR is indeed reflective of the area's affordability needs. Additionally, check the specific eligibility requirements for Section 8 in your region to avoid any compliance issues.
Section 8 can be a stable source of income for landlords willing to participate in the program. With the FMR set at $1,040, you can expect consistent payments from the government for eligible tenants, reducing the risk of non-payment. However, the success of your investment hinges on accurately gauging the local rental market and ensuring your property meets all necessary standards.
Data Sources: FMR data from HUD (2027).
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.