Location: Cleveland, OH | Metro: Cleveland, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44128, which covers Warrensville Heights, Ohio, is set at $1,100 per month for the fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, not the actual rent that tenants will pay. It's important to understand that this is a payment standard, meaning it limits how much you can receive from the government subsidy for a Section 8 tenant.
In contrast, the local average rent for a similar property in this area is approximately $1,379. This is based on the Zillow Observed Rental Index (ZORI), which reflects market rates. Given that the FMR is lower than the market rate, landlords should be prepared to accept a subsidy that caps their income at $1100 per unit for the year 2024.
The demand for rental properties in Warrensville Heights is robust, with nearly half of all households being renters. Specifically, 49.9% of the population rents their homes, indicating a strong market for rentals. This high percentage suggests that there is a significant number of potential tenants who might qualify for Section 8 housing assistance, ensuring a steady pool of applicants.
When considering purchasing a property to use as a Section 8 rental, the median home value in the area is around $103,235. This figure helps you estimate the acquisition cost for a typical home in Warrensville Heights, allowing you to calculate your potential return on investment once you factor in the capped rent payments.
Before proceeding with a Section 8 rental, ensure that the property meets all HUD (Department of Housing and Urban Development) requirements. These include safety, health, and structural standards. A thorough inspection and any necessary repairs must be completed to avoid disqualification from the program.
In summary, while the FMR of $1100 per month is lower than the local average rent of $1379, the high renter share of 49.9% and the relatively low median home value of $103,235 make Warrensville Heights an attractive location for first-time Section 8 landlords. Just remember to verify that your property complies with HUD standards to guarantee eligibility.
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.