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 | $890 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $232,247 | 0.53% | F |
| 3BR | $1,480 | $284,579 | 0.52% | F |
| 4BR | $1,630 | $363,645 | 0.45% | F |
| 5BR | $1,891 | $402,688 | 0.47% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 44278, located in Tallmadge, OH, within the Akron, OH MSA, reveals key insights for landlords and small-portfolio investors. First, the rent math does not favor Section 8 participation. The Fair Market Rent (FMR) for FY 2024 is set at $1050, which is significantly lower than the market rent of $1,520 (ZORI). This gap suggests that landlords would be better off renting properties at market rates rather than participating in the Section 8 program.
Second, acquisition is relatively affordable in this area. The median home value stands at $282,369, making it a feasible investment option. However, the lack of data on days on market (DOM) and the low percentage of homes requiring price cuts (0.2%) indicate a stable market with little urgency for sellers, meaning investors might face some challenges in finding motivated sellers willing to negotiate.
Third, there is sufficient tenant demand to consider. With a total population of 18,424 and a renter share of 15.9%, the number of potential renters is substantial. This demand can support rental properties, though the preference should be towards market rents given the higher FMR.
In summary, while ZIP 44278 offers an affordable entry point into the real estate market with a median home value of $282,369 and a notable tenant base, the economics of Section 8 participation do not align well due to the disparity between the $1050 FMR and the $1,520 market rent. Landlords and investors should focus on renting at market rates to maximize returns. Despite the challenges, the presence of a consistent tenant pool makes this ZIP code worth considering for those looking to invest in the Akron, OH MSA.
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.