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 | $840 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,400 | $91,798 | 1.53% | A+ |
| 4BR | $1,540 | $108,075 | 1.42% | A |
U.S. Census Bureau data (2024)
ZIP code 44304 is predominantly a renter-heavy area with significant demand for Section 8 housing vouchers. With a population of 4,000, over 92.5% of residents are renters, indicating a strong reliance on rental properties. This high percentage of renters suggests that there is a substantial pool of potential tenants who could benefit from the Section 8 program.
The median household income in this ZIP code is $41,763, which is below the average income for many areas. Given the market rent of $933, this represents approximately 22.3% of the median household income. In other words, typical rent consumes a significant portion of the local income, making affordable housing options highly desirable for most residents.
Comparing the market rent to the Fair Market Rent (FMR) of $1,000 for FY 2024, it's evident that the rental costs in ZIP 44304 are slightly below the FMR threshold. This means that landlords in this area can potentially attract tenants with vouchers, as the rent is within the allowable range set by the government for subsidized housing.
A landlord in ZIP 44304 should expect a tenant profile that includes individuals and families with low to moderate incomes, who are likely to be seeking affordable housing options. These tenants will often have housing vouchers to help cover their rent payments. The high proportion of renters and the alignment of market rents with the FMR indicate a robust demand for rental properties that accept Section 8 vouchers. Landlords should prepare to work with tenants who may have varying financial situations and ensure that their properties meet the necessary standards for voucher acceptance.
In summary, ZIP 44304 is an ideal location for landlords and small-portfolio investors interested in attracting Section 8 tenants due to the high percentage of renters and the affordability of the market rent relative to the median income. The typical rent eats up a considerable portion of local income, making voucher-assisted rentals a practical solution for many residents.
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.