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 | $750 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $62,720 | 1.66% | A+ |
| 3BR | $1,250 | $72,505 | 1.72% | A+ |
| 4BR | $1,370 | $92,114 | 1.49% | A |
| 5BR | $1,589 | $110,822 | 1.43% | A |
U.S. Census Bureau data (2024)
The ZIP code 44311 in Akron, OH, presents a dynamic rental market with strong indicators pointing towards demand potentially outpacing supply. The Fair Market Rent (FMR) for the area, set at $930 for fiscal year 2024, is notably lower than the actual market rent, which stands at $1,124 according to ZORI. This suggests that there is a premium being charged over the government's benchmark rate, indicating a robust demand for rental properties.
A key metric to consider is the price-cut share, which is currently at 0.2%. This low percentage implies that landlords are not frequently having to reduce their asking rents to attract tenants, further supporting the notion that demand is strong relative to supply. Additionally, the median home value of $76,725 is relatively modest, suggesting that homeownership may be less accessible for many residents, thereby driving up the reliance on rental housing.
The significant renter share of 83.0% underscores the importance of the rental market in this area. Such a high proportion of renters indicates ongoing pressure on the housing market, as it signals a sustained need for rental units. This can create a favorable environment for landlords and small-portfolio investors, as it ensures a consistent demand for rental properties.
In summary, the data points towards a market where demand is likely outpacing supply, driven by factors such as the premium charged over FMR and the high renter share. For investors, this means an opportunity to capitalize on the steady demand for rental housing in ZIP 44311, without the necessity of frequent price adjustments to maintain occupancy 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.