Section 8 Fair Market Rent (FMR) for ZIP 44423 - 2027

Location: Columbiana County, OH | Metro: Columbiana County, OH

Investment Score for ZIP 44423

Monthly Rent (2BR)

$1,250

Median Price (2BR)

$186,542

1% Rule

0.67%

Annual Yield

8.04%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$970
1 Bedroom	$990
2 Bedrooms	$1,250
3 Bedrooms	$1,610
4 Bedrooms	$1,640
5 Bedrooms	$1,902
6 Bedrooms	$2,130
7 Bedrooms	$2,300
8 Bedrooms	$2,415

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,250	$186,542	0.67%	D
3BR	$1,610	$242,831	0.66%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,177

Median Household Income

$80,583

Housing Units

925

Renter Percentage

16.5%

Occupancy Rate

86.4%

Renter Occupied

132

The ZIP code 44423, encompassing Hanoverton, OH, is a residential area characterized by a blend of suburban tranquility and rural charm. This region offers a stable environment for real estate investments, particularly for those interested in the rental market under the Section 8 program.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metropolitan area for fiscal year 2026 is set at $1,270. This figure provides a benchmark for landlords participating in the Section 8 program.
The average market rent for properties in ZIP 44423, according to Census ACS data, stands at $857. This indicates that properties in this area are generally priced below the FMR, offering potential for competitive returns on investment.
The median home value in this ZIP code is $201,453, reflecting a moderate cost of entry for property owners looking to invest in this area.
Renters make up 16.5% of the population, suggesting a modest but steady demand for rental housing.
The median income in ZIP 44423 is $80,583, which supports a healthy tenant pool capable of meeting their financial obligations.

Analyzing these data points, it's evident that Hanoverton, OH, presents a balanced opportunity for real estate investors. With the FMR above the current market rent, there is room for landlords to adjust their rents upwards while remaining within the Section 8 guidelines. The median home value and income levels indicate a stable economic foundation, reducing the risk of high vacancy rates. However, the relatively low renter share suggests that competition for tenants could be intense, necessitating well-maintained properties and adherence to local housing standards to attract and retain Section 8 participants.

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.