Location: Akron, OH | Metro: Akron, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
To classify ZIP code 44222 in Unknown, OH, we must rely on the available data points for a comprehensive analysis. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1040. This figure represents the maximum amount that a tenant can be expected to pay under the Section 8 program. However, the absence of market rent and home value data complicates a full assessment of the yield potential.
In terms of stability, the lack of percentage of renters, days on market (DOM), and median income figures leaves us with incomplete information. Without these key metrics, it's challenging to evaluate the long-term financial health and predictability of the rental market in ZIP 44222.
The FMR of $1040 suggests that landlords participating in the Section 8 program can expect a stable rental income. However, the absence of comparative market rent data means we cannot definitively state whether this is a high-yield market. Typically, if the market rent exceeds the FMR, landlords might see higher yields outside of the Section 8 program, but this is not possible to confirm with the current data.
Given the limited data, ZIP 44222 appears to be a steady-cashflow zone, particularly for those who are willing to participate in the Section 8 program. The known FMR provides a reliable baseline for rental income, which can be crucial for small-portfolio investors seeking predictable returns. However, without additional market-specific data, it's impossible to determine the exact yield potential or the level of stability in terms of renter demographics and economic indicators.
A prudent approach for landlords and investors would be to focus on the guaranteed income aspect of the Section 8 program while being aware that there might be risks associated with the unknowns of the local market. Engaging in further research to gather missing data points could provide a clearer picture of the investment landscape in ZIP 44222.
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.