Location: Wayne 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 | $720 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $159,766 | 0.64% | D |
| 3BR | $1,250 | $217,224 | 0.58% | F |
| 4BR | $1,450 | $296,386 | 0.49% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 44270, located in Rittman, OH, within the Wayne County, OH metro area, does not align favorably. The Fair Market Rent (FMR) set at $960 for fiscal year 2024 contrasts sharply with the actual market rent reported by the Census ACS, which stands at $786. This discrepancy suggests that landlords might struggle to justify higher rents based on current market conditions.
Acquisition in this ZIP code is relatively affordable, with a median home value of $199,106. However, the lack of data on days on market (DOM) and the percentage of homes that require price cuts indicates potential challenges in quickly selling properties at full price. Landlords should be prepared for a slower turnover and possibly lower sale prices.
Tenant demand is present but limited. With a total population of 8,071, 27.6% of residents are renters. This translates to approximately 2,220 rental units in demand. While this is a significant number, it's important to note that the overall population size restricts the pool of potential tenants.
Verdict: ZIP 44270 offers a balanced opportunity for small-portfolio investors interested in acquiring affordable properties. However, the mismatch between FMR and actual market rent could pose challenges in maximizing rental income. Tenant demand is sufficient, but the limited population size means competition among rental properties will be intense. Investors should carefully evaluate their ability to manage properties in a market where rent increases may be constrained.
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.