Section 8 Fair Market Rent (FMR) for ZIP 44307 - 2027

Location: Akron, OH | Metro: Akron, OH MSA

Investment Score for ZIP 44307

A+

Monthly Rent (2BR)

$1,090

Median Price (2BR)

$72,304

1% Rule

1.51%

Annual Yield

18.09%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$840
2 Bedrooms	$1,090
3 Bedrooms	$1,310
4 Bedrooms	$1,430
5 Bedrooms	$1,659
6 Bedrooms	$1,858
7 Bedrooms	$2,007
8 Bedrooms	$2,107

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,090	$72,304	1.51%	A+
3BR	$1,310	$82,113	1.6%	A+
4BR	$1,430	$89,528	1.6%	A+

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,653

Median Household Income

$27,697

Housing Units

3,671

Renter Percentage

72.1%

Occupancy Rate

87.7%

Renter Occupied

2,321

The ZIP code 44307, located in Akron, Ohio, presents a unique opportunity for real estate investors interested in the Section 8 housing market. This area is characterized by a mix of urban and suburban living, offering affordable housing options to a diverse population.

The Fair Market Rent (FMR) for ZIP 44307 in fiscal year 2024 is set at $930, which represents the maximum amount that a Section 8 tenant can be charged for rent.
The market rent, measured by Zillow's ZORI index, stands at $1,146, indicating a slight premium over the FMR for private rentals.
The median home value in ZIP 44307 is $77,059, making it one of the more affordable areas in terms of property acquisition.
Renters make up a significant portion of the population, with a renter share of 72.1%, suggesting strong demand for rental properties.
The median income in the area is $27,697, which aligns closely with the eligibility requirements for Section 8 assistance.

Given these metrics, investors in ZIP 44307 should focus on properties that meet or slightly exceed the FMR threshold while remaining accessible to the local population's income levels. The high renter share and alignment with Section 8 income limits indicate a robust market for subsidized housing. However, the gap between FMR and market rents also suggests potential for non-subsidized tenants willing to pay more, depending on property quality and location.

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.