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 | $810 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $91,428 | 1.24% | A |
| 3BR | $1,350 | $113,234 | 1.19% | B |
| 4BR | $1,490 | $151,929 | 0.98% | C |
| 5BR | $1,728 | $179,104 | 0.96% | C |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $950 for zip code 44320 in Akron, OH, landlords can expect a reasonable balance between affordability and rental income. The actual market rent, known as the Zillow Observed Rent Index (ZORI), stands at $1,085, indicating a slight premium over the government-set FMR. This suggests that there is potential for landlords to charge slightly above the FMR if they offer well-maintained properties. The median home value in the area is $110,909, making it an attractive option for first-time homebuyers or investors looking for affordable entry points. In zip 44320, 46.1% of residents are renters, showing a significant demand for rental properties. The median income of $41,241 supports the FMR but may limit the ability of some tenants to pay higher rents, emphasizing the importance of maintaining properties at or near the FMR. Landlords should note that the days on market (DOM) average is 16, which is relatively low, suggesting that properties are typically rented quickly. However, the price-cut share of 0.3% indicates that very few properties need to be discounted to attract tenants, which is positive for maintaining rental rates. Given these factors, the Section 8 program remains a viable option for landlords in zip 44320, ensuring steady rental income without the risk of vacancy.
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.