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 | $870 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $990 | $144,893 | 0.68% | D |
| 2BR | $1,200 | $205,798 | 0.58% | F |
| 3BR | $1,530 | $288,858 | 0.53% | F |
| 4BR | $1,650 | $362,633 | 0.46% | F |
| 5BR | $1,914 | $440,214 | 0.43% | F |
U.S. Census Bureau data (2024)
The Fairview Park, OH market, specifically ZIP 44126, exhibits signs of being a dynamic and responsive housing environment. With a Fair Market Rent (FMR) set at $1060 for the fiscal year 2024, it closely aligns with the Census ACS reported market rent of $1,048. This indicates a stable rental market, suggesting that the current rents reflect what the market can bear without significant downward pressure.
The low 0.2% price-cut share and short 5-day Days on Market (DOM) further support the notion that demand is robust relative to supply. When homes are selling quickly and few sellers are forced to reduce their asking prices, it's a strong indicator that buyers are eager and willing to pay the listed amounts. The median home value in Fairview Park stands at $277,897, which provides a benchmark for homeownership costs in the area.
A noteworthy statistic is the 29.9% renter share. In areas where a substantial portion of the population rents rather than owns, there is often a persistent demand for rental properties. This high renter share implies ongoing housing pressure, particularly for those seeking affordable options. Landlords and small-portfolio investors should take note that maintaining a balance between rental rates and property values is key to sustaining profitability and occupancy levels.
The interplay between these factors—stable rental prices, quick sales, and a significant renter population—suggests a market where demand is currently keeping pace with supply. However, the presence of a large renter share means that any shift in economic conditions could alter this balance. For instance, if job growth were to accelerate, the demand for both rentals and homeownership might rise, potentially driving up property values and rental rates. Conversely, an increase in new construction could add to the supply, putting downward pressure on prices.
In conclusion, Fairview Park presents a market characterized by stability and potential for growth, driven by the current balance between renters and homeowners. The dynamics of this market suggest opportunities for those who understand the local economy and housing needs.
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.