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 | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $215,334 | 0.46% | F |
| 3BR | $1,260 | $273,347 | 0.46% | F |
| 4BR | $1,420 | $350,323 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 44287 in Wayne County, Ohio, stands out due to its unique demographic and economic characteristics. With a total population of 7,935, this area has a relatively low rental rate of 15.2%, indicating that most residents prefer homeownership. The median income of $73,816 is higher than the national average, suggesting a financially stable community. Furthermore, the median home value of $251,087 reflects the local real estate market's strength and the overall wealth of the area.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 44287 is set at $980 for fiscal year 2024. This is notably higher than the market rent of $848 reported by the Census Bureau's American Community Survey. This discrepancy means that landlords can potentially receive higher rents through Section 8 vouchers compared to the typical market rates, making it an attractive option for those who participate.
The data suggests that ZIP 44287 is a stable market. Despite having a lower percentage of renters, the high median income and median home value indicate that the community is economically robust. Landlords and small-portfolio investors should find this ZIP code appealing for long-term investments, especially considering the favorable voucher economics which could provide a steady stream of income above current market rates.
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.