Location: Youngstown-Warren, 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 | $730 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $232,642 | 0.43% | F |
| 3BR | $1,220 | $304,142 | 0.4% | F |
| 4BR | $1,330 | $349,182 | 0.38% | F |
U.S. Census Bureau data (2024)
The median household income in ZIP code 44412, which includes Diamond, OH, stands at $102,726 according to the latest Census ACS data. At first glance, this suggests a relatively affluent area where residents could easily cover the market rate rent of $897. However, the reality of housing affordability is more nuanced.
The Federal Market Rent (FMR) for ZIP 44412 in fiscal year 2024 is set at $930. This figure represents the standard payment amount for housing vouchers in the area. While it is slightly higher than the market rate of $897, the difference is minimal, indicating that voucher payments closely align with what the market demands.
With only 13.4% of the 2,976 population being renters, competition among landlords in ZIP 44412 is likely to be fierce. Landlords must carefully consider their pricing strategies to attract tenants in a market where the number of potential renters is limited. The affordability gap between median income and rent prices, while not extreme, still presents challenges for renters who might prefer to allocate funds to other expenses or savings.
For landlords evaluating whether to accept housing vouchers or focus on cash-paying tenants, the data suggests a balanced approach. Given that voucher payments are nearly equivalent to market rates, accepting vouchers can provide a steady stream of income without significant risk. Moreover, it opens up the possibility of attracting tenants who might otherwise struggle to find affordable housing options, thereby increasing the pool of potential renters.
However, landlords should also be aware of the administrative requirements associated with housing vouchers. These include compliance with HUD standards and periodic inspections, which can add complexity to property management. On the flip side, cash-paying tenants may offer more flexibility and potentially higher rents, but securing them in a competitive market can be challenging.
In conclusion, landlords in ZIP 44412 should consider both voucher and cash-paying strategies. Vouchers ensure a reliable income source that matches market rates, while cash-paying tenants could offer higher rents and fewer regulatory burdens. Balancing these approaches will be key to maximizing profitability and maintaining a diverse tenant base.
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.