Location: Akron, OH | Metro: Akron, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
To classify ZIP 44309 in Unknown, OH, we must rely on the available data points for a thorough analysis. The Fair Market Rent (FMR) for ZIP 44309 in fiscal year 2024 is set at $1040. This figure is critical for understanding the potential rental income that can be achieved in this area.
The absence of market rent and home value data complicates the yield assessment but does not negate the significance of the FMR. In the context of Section 8 properties, the FMR serves as a benchmark for what landlords can expect to receive per unit. With an FMR of $1040, landlords should aim to lease units close to this amount to maximize their yield. However, without comparative market data, it's challenging to determine if this represents a high or standard yield relative to non-Section 8 rentals in the same area.
Moving to stability, the lack of specific percentages for renters, days on market (DOM), and income levels means that we cannot definitively assess the volatility of the market. Stability in a rental market is often gauged by the percentage of renters, the average DOM for vacant properties, and the median income of residents. These factors collectively influence the predictability of cash flow and the likelihood of maintaining occupancy rates.
In the absence of these key metrics, ZIP 44309 cannot be conclusively labeled as either a high-yield/low-stability flip-style market or a steady-cashflow zone. The available FMR suggests a clear rental income target, but without additional data on market conditions, we cannot make a precise determination on the stability axis.
To proceed with a more accurate classification, one would need to conduct further research into the local rental market dynamics, including recent trends in rental prices, property values, and tenant demographics. Until such data is available, ZIP 44309 remains a speculative area for investment, particularly when considering the specific needs of landlords and small-portfolio investors who rely on both yield and stability for their financial planning.
Data Sources: FMR data from HUD (2027).
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.