Location: Cleveland, 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 | $1,220 |
| 1 Bedroom | $1,310 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,690 | $208,056 | 0.81% | C |
| 3BR | $2,020 | $288,988 | 0.7% | D |
| 4BR | $2,220 | $484,730 | 0.46% | F |
| 5BR | $2,575 | $591,180 | 0.44% | F |
U.S. Census Bureau data (2024)
ZIP code 44321, located in Copley, OH, falls within the Cleveland, OH HUD Metro Fair Market Rent (FMR) Area. The Fair Market Rent for ZIP 44321 is set at $1300 for fiscal year 2024. This figure is significantly lower than the market rent of $2,050, indicating that properties here are priced well above the FMR threshold.
The median home value in ZIP 44321 is $363,116, which is higher than many typical ZIP codes within the Cleveland metro area. However, it's important to note that the renter share is 25.7%, which is notably higher than the average for the Cleveland metro area. This suggests that while the home values are relatively high, there is a significant demand for rental properties in this area.
To determine if ZIP 44321 is a value pocket, a mid-tier neighborhood, or a premium sub-market within the Cleveland metro, we can analyze the figures in context. Given the high median home value, it's clear that 44321 is not a value pocket where homes are undervalued. Instead, the high renter share combined with the gap between the FMR and the market rent suggests that this area could be particularly attractive for Section 8 landlords and small-portfolio investors.
The divergence between the high renter share and the below-metro median home value is a key indicator. Typically, a higher proportion of renters in an area with relatively lower home values can signal a potential sweet spot for Section 8 housing. In this case, despite the higher home values, the significant renter share indicates strong demand for affordable housing options, making 44321 a promising sub-market for those interested in Section 8 tenancy.
Landlords and small-portfolio investors should consider the following:
In conclusion, ZIP 44321 appears to be a mid-tier neighborhood within the Cleveland metro area, offering both solid home values and a significant opportunity for Section 8 investments due to its high renter share and lower FMR compared to market rents.
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.