Section 8 Fair Market Rent (FMR) for ZIP 44231 - 2027

Location: Youngstown-Warren, OH | Metro: Akron, OH MSA

Investment Score for ZIP 44231

Monthly Rent (2BR)

$1,040

Median Price (2BR)

$221,703

1% Rule

0.47%

Annual Yield

5.63%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$750
1 Bedroom	$810
2 Bedrooms	$1,040
3 Bedrooms	$1,260
4 Bedrooms	$1,380
5 Bedrooms	$1,601
6 Bedrooms	$1,793
7 Bedrooms	$1,936
8 Bedrooms	$2,033

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,040	$221,703	0.47%	F
3BR	$1,260	$292,284	0.43%	F
4BR	$1,380	$342,449	0.4%	F
5BR	$1,601	$404,132	0.4%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

8,215

Median Household Income

$78,609

Housing Units

3,331

Renter Percentage

17.3%

Occupancy Rate

97.3%

Renter Occupied

560

Garrettsville, OH, located in ZIP code 44231, is a small town with a strong local economy, characterized by a mix of residential properties and a growing rental market. The town offers a peaceful environment with easy access to larger urban centers, making it an attractive option for both homeowners and renters.

The Fair Market Rent (FMR) for ZIP 44231 is set at $930 for the fiscal year 2024, indicating the government's benchmark for affordable housing in the area.
The market rent, according to Census ACS data, stands at $904, slightly below the FMR but still reflective of the demand for rental properties.
The median home value in Garrettsville is $282,209, providing a solid foundation for investment in single-family homes and other residential properties.
Renters make up 17.3% of the population, suggesting a moderate rental market that could be further developed to meet growing needs.
The median income in the area is $78,609, which supports the ability of residents to afford higher rents and property values, enhancing the potential for profitable investments.

Analyzing these points, investors can see that Garrettsville presents a balanced opportunity with a fair rental market and stable home values. The town’s economic indicators suggest a reliable environment for long-term investments, particularly in rental properties where the current market rent aligns closely with the FMR, ensuring compliance with affordable housing standards while maintaining profitability. The moderate rental market share indicates room for growth, especially if there is an increase in population or job opportunities in the near future.

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.