Location: Cleveland, OH | Metro: Akron, OH MSA
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 | $980 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $239,227 | 0.56% | F |
| 3BR | $1,730 | $345,647 | 0.5% | F |
| 4BR | $1,860 | $463,105 | 0.4% | F |
| 5BR | $2,158 | $599,304 | 0.36% | F |
U.S. Census Bureau data (2024)
Medina 44256 presents a stable, family-centric environment distinct from the immediate Cleveland suburbs. The area is characterized by its historic public square and a robust small-town atmosphere that appeals to long-term residents. A key economic anchor here is the Medina Hospital, part of the Cleveland Clinic health system, which provides substantial local employment and contributes to the community's steady demand for housing. The neighborhood offers a blend of older charm and newer subdivisions, making it a desirable location for households seeking connectivity to the broader Cleveland metro area while maintaining a separate residential identity.
The financial metrics reveal a notable disconnect between subsidized rates and the open market. The HUD Fair Market Rent (FMR) for a 2-bedroom unit is set at $1,420, but current market rents (Zillow ZORI) reach approximately $1,893, leaving a gap of $473. Investors looking at acquisition should note the high entry price, with a median home value of $374,753 and a median 2BR sale price of $232,320. Properties move relatively quickly here, with a median days on market of 33 days, suggesting strong demand from owner-occupants and market-rate renters that can outbid voucher limits.
Despite a low renter share of 18.5%, the area's high median household income of $99,923 suggests a tenant pool with financial stability, though voucher holders may face affordability hurdles given the rent gap. The local school district is highly rated, which traditionally drives family retention and supports neighborhood stability. While transit options are limited to typical suburban bus routes rather than rapid rail, the quality of life amenities and school performance create a "hold" environment where long-term occupancy is high, potentially offsetting the lower subsidized rents with reduced turnover costs.
The Section 8 verdict for Medina 44256 leans toward appreciation and stability rather than immediate cash flow. The substantial $473 gap between the 2BR FMR and market rent means voucher rates alone will likely not cover modern mortgage payments on the median home value. However, for investors utilizing the 2024 ZIP-level SAFMR of $1,270 or seeking to hold assets for equity growth, the area's strong school ratings and institutional employment provide a safety net. This is a market for buying and holding for appreciation, banking on the area's affluence rather than maximizing monthly HUD subsidies.
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.