Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, 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 | $760 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,300 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $157,580 | 0.63% | D |
| 3BR | $1,300 | $223,193 | 0.58% | F |
| 4BR | $1,370 | $290,245 | 0.47% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 44403, Ohio, stands at $60,874. This figure places affordability of housing in a critical light when considering the market rate rent of $696 per month, as reported by the Census Bureau's American Community Survey (ACS). At first glance, the market rate appears manageable for a household earning the median income; however, the reality is more nuanced.
The Fair Market Rent (FMR) for ZIP 44403, set at $860 per month for fiscal year 2024, represents the maximum amount HUD will pay for a voucher recipient. This amount is significantly higher than the market rate, indicating a substantial subsidy for those receiving vouchers. The difference between the market rate and the voucher payment standard highlights an affordability gap for renters not covered by subsidies. For landlords, this means that while the market rate may be lower, the guaranteed payment through vouchers can offer stability and potentially higher returns than relying on non-subsidized tenants.
With only 15.9% of the 3,743 residents being renters, competition among landlords is relatively low. However, the scarcity of rental units can lead to higher demand for affordable housing options, especially for those who might benefit from Section 8 vouchers. Landlords should consider the dynamics of both voucher and cash-paying tenants, as the latter may be fewer but willing to pay closer to the market rate.
The takeaway for landlords is clear: accepting Section 8 vouchers can provide a steady stream of rental income, though it comes with the trade-offs of government oversight and potentially longer vacancy periods due to the application process. Cash-paying tenants, while less abundant, offer a quicker turnover and possibly higher rents without the need for additional administrative work. Landlords must weigh these factors based on their specific circumstances and goals.
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.