Section 8 Fair Market Rent (FMR) for ZIP 44090 - 2027

Location: Cleveland, OH | Metro: Cleveland, OH HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$730
1 Bedroom	$830
2 Bedrooms	$1,010
3 Bedrooms	$1,290
4 Bedrooms	$1,390
5 Bedrooms	$1,612
6 Bedrooms	$1,805
7 Bedrooms	$1,949
8 Bedrooms	$2,046

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,670

Median Household Income

$76,906

Housing Units

4,363

Renter Percentage

19.4%

Occupancy Rate

94.4%

Renter Occupied

800

Housing Authorities Serving ZIP 44090

Lorain Metropolitan Housing Authority (Lorain, OH) - 3,168 Section 8 vouchers
Medina Metropolitan Housing Authority (Medina, OH) - 704 Section 8 vouchers

Wellington, OH, located in ZIP code 44090, is a suburban community known for its quiet neighborhoods and proximity to larger urban centers, making it an attractive location for both homeowners and renters. The area offers a mix of housing options, from single-family homes to apartments, catering to diverse lifestyles and budgets.

The Fair Market Rent (FMR) for a two-bedroom apartment in Wellington, OH for fiscal year 2024 is set at $930. This figure represents the maximum amount that low-income families should pay for housing under the Section 8 program.
The market rent for a typical two-bedroom rental unit in Wellington, OH, based on the latest Census American Community Survey (ACS), stands at $857. This indicates that the actual rental prices are slightly below the FMR, offering potential savings for landlords participating in the Section 8 program.
The median home value in Wellington, OH, is $282,387. This suggests that the housing market is stable and moderately priced, appealing to first-time buyers and investors looking for affordable entry points.
Renters make up 19.4% of the total population in Wellington, OH. While this percentage is relatively low, it still represents a significant portion of the market, indicating demand for rental properties.
The median income in Wellington, OH, is $76,906. This income level supports a robust rental market, as residents have the financial means to afford higher rents and potentially participate in the homeownership market.
The Days on Market (DOM) for rental units is currently listed as N/A, which could mean that there is either insufficient data or that rental listings move quickly, suggesting a competitive market for landlords.

Synthesizing these data points, Wellington, OH, presents a balanced opportunity for real estate investment. The market rent being lower than the FMR indicates a favorable environment for landlords participating in the Section 8 program, as they can offer affordable rates while still maintaining profitability. The median home value and income levels suggest a stable local economy that can support both rental and homeownership markets, making it an attractive area for diversifying investment portfolios. Despite the low renter share, the presence of a solid rental market and the quick turnover of rental listings indicate strong demand for rental properties, especially those that meet the needs of low-income families. Investors should consider the area's appeal to first-time buyers and the potential for rental properties to fill gaps in the market, ensuring steady returns on investment.

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.