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 | $870 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $80,722 | 1.16% | B |
| 2BR | $1,210 | $146,624 | 0.83% | C |
| 3BR | $1,450 | $188,702 | 0.77% | D |
| 4BR | $1,590 | $278,271 | 0.57% | F |
| 5BR | $1,844 | $309,348 | 0.6% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44312, Lakemore, Ohio, is set at $1010 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning that if you decide to participate in the Section 8 program, the government will pay up to $1010 per month for a rental unit, adjusted based on the size of the household receiving assistance.
In contrast, the typical market rent for a two-bedroom apartment in ZIP 44312 is currently $1,274, according to the Zillow Observed Rent Index (ZORI). This indicates that landlords who accept Section 8 vouchers might see a difference of about $264 between the FMR and the average market rent.
The 23.5% renter share in this ZIP code suggests that there is a significant portion of the population renting homes rather than owning them, which can translate into strong demand for rental properties. This percentage reflects the proportion of total income that renters in the area typically allocate towards housing costs, indicating a steady pool of potential tenants.
When it comes to acquiring a property in ZIP 44312, the median home value stands at approximately $178,072. This is the price point where half of the homes are valued higher and half lower, giving you an idea of the investment required to enter the market here.
Before committing to a Section 8 rental, ensure that the property meets the Housing Quality Standards (HQS) set by the U.S. Department of Housing and Urban Development (HUD). These standards cover safety, health, and habitability criteria that must be met for a unit to qualify under the program.
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.