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 | $830 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $148,041 | 0.77% | D |
| 3BR | $1,460 | $195,048 | 0.75% | D |
| 4BR | $1,570 | $203,678 | 0.77% | D |
U.S. Census Bureau data (2024)
The ZIP code 44144, located in Brooklyn, Ohio, presents a dynamic rental market that reflects both current conditions and underlying trends. The Fair Market Rent (FMR) for the area stands at $990 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) indicates a market rent of $1,180. This suggests that the actual rents charged in the market exceed the government's benchmark, pointing to a scenario where demand is robust enough to support higher rents.
A key indicator of market health is the price-cut share, which measures the proportion of listings that have been discounted. In ZIP 44144, this figure is a mere 0.2%, indicating that very few properties are being reduced in price. This low rate implies that landlords are able to maintain their asking rents without having to lower them to attract tenants, a sign of strong tenant interest.
The days on market (DOM) statistic, showing an average of 19 days, further supports the notion of a brisk rental market. Properties are moving quickly, suggesting that there are more interested renters than available units, a condition that typically drives up rents and keeps vacancy rates low.
The median home value of $179,712 provides context for the overall affordability of the area. However, it is the 40.8% renter share that offers insight into the long-term dynamics of housing pressure. With such a significant portion of residents renting, there is a sustained need for rental properties, creating a consistent demand that can translate into steady rental income for landlords. This high renter share also points to an ongoing challenge for potential homeowners, as it suggests limited availability or affordability of owner-occupied homes.
In summary, ZIP 44144 is characterized by a rental market where demand appears to be outpacing supply. The relatively high market rents, low price-cut share, and quick turnover times all suggest that tenants are eager to secure housing, driving the market towards higher rents. The substantial renter population underscores the enduring nature of this demand, providing a reliable foundation for landlords and small-portfolio investors looking to capitalize on the rental market's momentum.
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.