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 | $780 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $130,860 | 0.83% | C |
| 3BR | $1,380 | $154,474 | 0.89% | C |
| 4BR | $1,490 | $150,842 | 0.99% | C |
| 5BR | $1,728 | $158,452 | 1.09% | B |
U.S. Census Bureau data (2024)
ZIP code 44109, located in Cleveland, OH, is positioned within the Cleveland, OH HUD Metro Fair Market Rent (FMR) Area. The FMR for 44109 in fiscal year 2024 is set at $940, which is notably lower than the market rent of $1,126. This indicates that the area is slightly below the market average in terms of rental costs, but still within the fair market range established by HUD.
The median home value in 44109 is $143,252, which is relatively low compared to other ZIP codes within the Cleveland, OH HUD Metro FMR Area. This suggests that properties in 44109 are generally less expensive than those in other parts of the metro area, making it potentially attractive for investors looking for affordable entry points.
A significant portion of residents in 44109 are renters, with a 53.2% share of the population. This high renter share, combined with the lower home values, often signals a favorable environment for Section 8 housing vouchers. Landlords and small-portfolio investors should consider the potential benefits of renting to voucher holders in this area, given the alignment between the FMR and the prevalence of renters.
In comparison to typical ZIP codes within the Cleveland, OH HUD Metro FMR Area, 44109 can be classified as a value pocket. It offers lower property values and slightly below-average rents, which could provide a competitive advantage for investors seeking to maximize their returns on investment through Section 8 participation.
The divergence between the high renter share and below-average home values in 44109 highlights an opportunity for landlords who are willing to accept Section 8 vouchers. These factors suggest that the area is particularly suited for tenants relying on government assistance, positioning it as a sweet spot for such investments within the broader Cleveland metro.
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.