Location: Ashland County, 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 | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $354,633 | 0.41% | F |
| 4BR | $1,610 | $475,411 | 0.34% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 44235 stands at $76,634. This figure is crucial when evaluating whether households can afford the market rate rental prices. Unfortunately, the market rate for rentals in this area is listed as N/A, making it impossible to provide a direct comparison to the median income.
However, we can assess the situation based on the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD), which is $980 for ZIP code 44235 for fiscal year 2024. This FMR represents the voucher payment standard for housing assistance recipients. Given that only 13.8% of the 1,365 population are renters, the competition among landlords is relatively low, which could be seen as an advantage for those willing to accept vouchers.
The affordability gap becomes evident when comparing the median income to the FMR. A household earning the median income would find it easier to afford the $980 FMR compared to potentially higher market rates. For landlords, this means that accepting Section 8 vouchers can ensure a steady stream of reliable tenants who can pay the stipulated amount without financial strain.
Landlords considering their strategy should weigh the benefits of accepting vouchers against the potential for cash-paying tenants. While cash-paying tenants might offer higher rents, the stability and guaranteed payment from voucher holders can be a safer bet in a market where the number of renters is limited. The takeaway is that landlords in ZIP 44235 should consider the lower competition and the support offered by vouchers to make informed decisions about their rental strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.