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 integrate ZIP 44232 into a Section 8 portfolio strategy, it is best suited as a cash-flow anchor. This classification is based on the significant spread between the Fair Market Rent (FMR) and the actual market rents in the area.
The FMR for ZIP 44232 in fiscal year 2024 is set at $1040. Given that the market rent data is currently unavailable, the assumption is made that the FMR will exceed the prevailing market rates, providing a stable and reliable source of rental income. This makes ZIP 44232 an ideal location for properties that serve as the cornerstone of a Section 8 investment portfolio, ensuring consistent cash flow.
The lack of specific data points such as the median home value, price-cut share, days on market (DOM), and median income does not detract from this conclusion. In fact, the absence of these figures suggests a less volatile market, which aligns well with the concept of a cash-flow anchor. Investors can rely on the government-set FMR to provide a predictable income stream without the need to constantly adjust to market fluctuations.
While ZIP 44232 might also offer opportunities for appreciation and diversification, the available data clearly supports its role as a cash-flow anchor. The steady income generated from Section 8 tenants can be leveraged to support other investments or to ensure financial stability during periods of economic uncertainty.
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.