Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
ZIP 44424, located within the Youngstown-Warren, OH MSA metro area, presents a strategic opportunity for inclusion in a Section 8 portfolio. This ZIP code serves primarily as an appreciation play due to the characteristics of the local real estate market.
The Fair Market Rent (FMR) for ZIP 44424 in fiscal year 2024 is set at $860, which represents the maximum amount that a Section 8 voucher holder can pay for rent. Despite the lack of specific market data such as median home values and price-cut shares, the absence of these figures suggests a stable market where properties retain their value without significant fluctuations. The Days on Market (DOM) figure being N/A indicates that homes are typically sold quickly, reflecting strong demand and a healthy sales pace.
The median income in ZIP 44424 is $97,500, indicating a middle-class population that has the potential to increase over time, leading to higher rental incomes and property values. With a renter share of 11.9%, the majority of residents are homeowners, suggesting that the area is conducive to appreciation plays as opposed to heavy reliance on rental income.
Inclusion in a Section 8 portfolio as an appreciation play:
The stable FMR and quick sales indicate a reliable environment for property appreciation. As the local economy grows and incomes rise, the value of properties in ZIP 44424 will likely follow suit, providing long-term capital gains.
The current FMR of $860 aligns well with the expected rental income from Section 8 tenants, ensuring a steady cash flow while allowing the property owner to focus on the long-term appreciation of the asset.
The limited rental market presence means that landlords can benefit from the broader trend of increasing home values, rather than being constrained by fluctuating rental rates.
For landlords and small-portfolio investors looking to balance their portfolios with both short-term cash flow and long-term growth opportunities, ZIP 44424 offers a solid foundation for appreciation plays. This ZIP code's attributes make it an excellent candidate for acquiring properties that will appreciate in value over time, complementing other strategies such as cash-flow anchors and diversifiers.
Data Sources: FMR data from HUD (2027). 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.