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 | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $110,609 | 0.91% | C |
| 3BR | $1,300 | $160,092 | 0.81% | C |
| 4BR | $1,380 | $239,324 | 0.58% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 44420, located in Girard, OH, reveals a unique balance between yield and stability that is worth considering for landlords and small-portfolio investors.
On the yield axis, the Fair Market Rent (FMR) for ZIP 44420 is set at $860 for the fiscal year 2024. This figure represents the maximum amount that a tenant can be expected to pay under the Section 8 program. In comparison, the market rent stands at $1,142, indicating a potential premium for market-rate properties. The median home value in this area is $142,835, which is relatively low, suggesting that the rental market could be particularly attractive for those seeking to maximize returns through rental income.
Moving to the stability axis, the data shows that 25.6% of residents are renters, which is a moderate percentage. However, the lack of data on the number of days on the market (DOM) makes it difficult to assess how quickly rental units turn over. The median household income is $61,707, which is below the national average, potentially indicating a less stable economic base for tenants. This lower income level might affect the ability of some tenants to consistently meet their rent obligations.
Given these figures, ZIP 44420 does not fit neatly into either a high-yield/low-stability flip-style market or a steady-cashflow zone. Instead, it falls somewhere in between. The relatively low FMR compared to the market rent suggests that there is room for higher yields if one operates outside the Section 8 program. However, the moderate rental rate and the lower median income imply that while there is potential for good cash flow, the stability of this cash flow might be compromised due to the economic profile of the area.
To conclude, investors should approach this market with a strategy that balances the pursuit of higher yields with the need for stable cash flow. While the opportunity exists to achieve better returns, the economic conditions may necessitate careful tenant screening and possibly a focus on longer-term leases to mitigate the risk of turnover and non-payment.
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.