Location: Akron, 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 | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $218,327 | 0.46% | F |
| 3BR | $1,200 | $259,106 | 0.46% | F |
| 4BR | $1,320 | $353,003 | 0.37% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44262, Munroe Falls, OH, in fiscal year 2024 is set at $930. This figure represents the payment standard for Section 8 housing assistance, meaning it's the maximum amount that the government will pay towards a tenant's rent. It does not reflect the total rent you can charge; rather, it caps the government subsidy.
While the local median rent for the area is not available, we can use the FMR as a benchmark. The FMR suggests that the government will cover up to $930 per month for a qualified tenant. If your property's rent exceeds this amount, the tenant must make up the difference. For example, if your rent is $1,000, the tenant would need to contribute $70 monthly on top of the $930 subsidy.
The 20.8% renter share indicates that about one-fifth of the households in Munroe Falls are renters. This percentage gives insight into the potential demand for rental properties. Given the share of renters, there is a reasonable market for Section 8 tenants, especially considering the financial support they bring.
The median home value in Munroe Falls is approximately $274,578. This figure is crucial when evaluating the acquisition cost of a property intended for Section 8 rentals. While the FMR provides a guideline for rental income, the median home value helps you assess whether the investment aligns with your financial goals.
Before proceeding with a Section 8 rental, ensure that your property meets all the required standards for habitability and safety. The government conducts inspections to verify compliance with these standards, and failing to meet them can result in penalties or loss of eligibility for the program. Once you confirm that your property is up to code, you can confidently move forward with your Section 8 rental plans.
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.