Section 8 Fair Market Rent (FMR) for ZIP 44101 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,220
1 Bedroom	$1,390
2 Bedrooms	$1,680
3 Bedrooms	$2,150
4 Bedrooms	$2,320
5 Bedrooms	$2,691
6 Bedrooms	$3,014
7 Bedrooms	$3,255
8 Bedrooms	$3,418

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

666

Median Household Income

$N/A

Housing Units

Renter Percentage

N/A

Occupancy Rate

N/A

Renter Occupied

The economics of Section 8 in ZIP 44101 are straightforward and can be broken down into key components to understand the financial implications for landlords. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for FY 2024 is set at $1230. This figure is specifically tailored for this area, reflecting local housing costs.

While the local market rent is currently unavailable, it's important to note that the SAFMR sets the maximum amount that a Section 8 voucher will cover for rent. Here’s how the payment structure works:

Tenant Contribution: Tenants are required to pay 30% of their adjusted income towards rent. For example, if a tenant has an adjusted income of $1500 per month, they would contribute $450 toward the rent.
Voucher Payment: The remaining amount up to the SAFMR is paid by the Housing Choice Voucher Program. In our example, the voucher program would pay $780 ($1230 - $450).
Utility Allowances: Additionally, the voucher includes a utility allowance which varies based on the size of the unit and location. For a two-bedroom apartment, this allowance might be around $150 per month, depending on the specific utility costs in the area.

To summarize, if you have a two-bedroom rental property in ZIP 44101, you can expect the total reimbursement from the voucher program and tenant contribution to be $930 ($780 + $150) per month, assuming the utility allowance is $150. Given that the SAFMR is $1230, landlords would face a reimbursement gap of $300 per month, meaning they would receive less than the full SAFMR amount.

This reimbursement gap or surplus depends on the actual market rent and the tenant's income level. Landlords should be aware that while the SAFMR provides a cap, the actual reimbursement will be lower due to the tenant's 30% contribution and any additional utility allowances. Therefore, it's crucial to factor in these elements when considering whether to participate in the Section 8 program for your properties in ZIP 44101.

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.