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 | $800 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $74,986 | 1.47% | A |
| 3BR | $1,410 | $83,919 | 1.68% | A+ |
| 4BR | $1,520 | $97,996 | 1.55% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 44110, located in Cleveland, OH, falls within the Cleveland, OH HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $950. This figure is lower than the market rent of $1,186, indicating that the rental prices are slightly above what is considered fair market value by the HUD. The median home value in ZIP 44110 is $83,124, which is notably lower than the typical home values found in other ZIP codes within the Cleveland, OH HUD Metro FMR Area. Additionally, 44110 has a significant renter share of 66.7%, suggesting a strong demand for rentals.
Comparing these figures to typical ZIP codes within the Cleveland, OH HUD Metro FMR Area, it becomes evident that 44110 stands out as a potential value pocket. The below-average home values combined with a high renter share point to an area where landlords can acquire properties at relatively low costs while still being able to charge rents that are competitive within the broader Cleveland market. This combination often signals a favorable location for Section 8 investments, as the lower property costs can help offset the typically lower rental income received through Section 8 vouchers.
To further analyze the position of 44110 within the Cleveland, OH HUD Metro FMR Area, consider the following:
The FMR of $950 is likely set to ensure affordability for low-income households, making it an attractive option for those seeking rental assistance.
The market rent of $1,186 suggests that landlords might be able to achieve a higher rent than the FMR, potentially allowing for a modest profit margin even when participating in Section 8 programs.
The median home value of $83,124 is substantially lower than the average home value across the Cleveland, OH HUD Metro FMR Area, indicating that property acquisition costs could be significantly less than in other parts of the city.
A 66.7% renter share points to a robust rental market, which can benefit landlords by ensuring steady demand for their properties.
Based on these figures, ZIP 44110 appears to be a value pocket within the Cleveland, OH HUD Metro FMR Area. It offers opportunities for landlords and small-portfolio investors to acquire properties at a lower cost while still being situated in an area with strong rental demand and competitive market rents.
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.