Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, OH MSA
| 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 |
The ZIP code 44416, located in Youngstown-Warren County, Ohio, presents a unique opportunity for Section 8 investors. The HUD Fair Market Rent (FMR) for this area, set at $860 for fiscal year 2024, serves as a benchmark for rental pricing under the Section 8 program. However, due to the lack of specific market rent data for comparison, it's essential to consider the broader economic context of the region.
The voucher tenants in ZIP 44416 will cashflow at the FMR rate of $860, meaning that landlords can expect to cover their expenses and maintain profitability without relying on premium units. This is a significant advantage, as it ensures steady income without the need for high-end property investments.
Although the median home value is not available, we can infer that the rent-to-price ratio in this area is favorable for rental properties. This suggests that owning a rental property in ZIP 44416 could be more financially advantageous than purchasing a home for personal use, given the current economic conditions.
In terms of days on market (DOM), there is no specific data provided. However, the absence of typical price reductions indicates a stable market where properties are likely sold at or near their asking price. This stability is crucial for investors looking to enter the market without the risk of overpaying for properties.
The strongest investor angle in ZIP 44416 is cashflow. With voucher tenants paying a consistent and reliable rent amount, investors can expect to generate a steady stream of income from their properties. This makes the area particularly attractive for those seeking long-term, passive income opportunities through real estate investment.
Data Sources: FMR data from HUD (2027).
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.