Section 8 Fair Market Rent (FMR) for ZIP 44253 - 2027

Location: Cleveland, OH | Metro: Cleveland, OH HUD Metro FMR Area

Investment Score for ZIP 44253

N/A

Monthly Rent (2BR)

$1,260

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$910
1 Bedroom	$1,040
2 Bedrooms	$1,260
3 Bedrooms	$1,610
4 Bedrooms	$1,740
5 Bedrooms	$2,018
6 Bedrooms	$2,260
7 Bedrooms	$2,441
8 Bedrooms	$2,563

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,610	$384,713	0.42%	F
4BR	$1,740	$461,148	0.38%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,552

Median Household Income

$91,500

Housing Units

1,348

Renter Percentage

10.6%

Occupancy Rate

96.3%

Renter Occupied

138

The town of Westbrook, Connecticut, represented by ZIP code 44253, offers a unique blend of suburban tranquility and proximity to urban amenities. Nestled in a region known for its natural beauty and high quality of life, it attracts a diverse range of residents, including families and professionals seeking a comfortable living environment.

The Fair Market Rent (FMR) for ZIP 44253 for fiscal year 2024 is set at $1,020.
The average market rent for properties in this ZIP code is $2,032, according to the latest Census ACS data.
The median home value in ZIP 44253 is $389,390, reflecting a stable housing market.
Renters make up only 10.6% of the population, indicating that this area is primarily composed of homeowners.
The median income in this ZIP code is $91,500, suggesting a relatively affluent community capable of supporting higher rents.
The Days on Market (DOM) for rental listings is currently N/A, which could imply either a robust demand for rentals or a limited supply of rental properties available for tracking.

Investors looking to enter the rental market in ZIP 44253 should be prepared for a competitive landscape, where the fair market rent stands significantly below the actual market rent. This gap presents an opportunity for those who can offer well-maintained properties at or slightly above the FMR. However, the low renter share suggests that the primary demand comes from a smaller segment of the population, likely necessitating a focus on quality over quantity. Given the median income level, there is potential for commanding higher rents, but investors must also consider the strong preference for homeownership in the area. Overall, ZIP 44253 represents a niche market with opportunities for those who can cater to the specific needs of renters in a predominantly owner-occupied community.

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.