Location: Akron, OH | Metro: Akron, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Brady Lake, OH, is a small town neighborhood located within ZIP code 44211. According to recent census data, the median household income in Brady Lake is $38,438, and the median home value is $157,300. This indicates that it is a middle-income area where homeownership is relatively affordable.
The percentage of renters in Brady Lake is not explicitly stated, but based on typical demographics, we can infer that a significant portion of the population might be renting rather than owning homes. However, without specific percentages, this remains an educated guess. The median rent in the area is $918 per month, which is notably lower than the Fair Market Rent (FMR) set at $1060 for ZIP code 44211 for fiscal year 2024.
This discrepancy between the FMR and the actual market rent suggests that there could be opportunities for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the lower market rent compared to the FMR means that landlords can potentially receive higher rents through Section 8 vouchers. For hands-on buyers, the opportunity to improve properties and command closer to the FMR rent could be attractive.
In summary, Brady Lake, OH, offers a modest income environment with affordable homeownership and rental options. The economic landscape is favorable for Section 8 investors, with the potential for both steady income and value appreciation depending on the investor's strategy.
Data Sources: FMR data from HUD (2027).
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.