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 | $790 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $210,690 | 0.5% | F |
| 3BR | $1,350 | $258,435 | 0.52% | F |
| 4BR | $1,440 | $437,841 | 0.33% | F |
U.S. Census Bureau data (2024)
Lake Milton, OH (ZIP 44429), located within the Youngstown-Warren, OH MSA, presents a unique set of characteristics that distinguish it from other ZIP codes in the region. With a Fair Market Rent (FMR) of $940 for fiscal year 2024 and an average market rent of $868, Lake Milton offers slightly higher government-subsidized rental rates compared to the general market.
The median home value in Lake Milton stands at $217,995, which is notably lower than the typical home values seen in many ZIP codes across the larger Youngstown-Warren metro area. This suggests that Lake Milton might be considered a value pocket within the metro, offering affordable housing options for both homeowners and renters.
A significant portion of residents in Lake Milton are renters, with 19.0% of the population living in rented properties. This figure is relatively high and indicates a substantial demand for rental units. The combination of a high renter share and below-average home values is indicative of a potential sweet spot for Section 8 landlords and small-portfolio investors, as it points to a market where subsidized rents can play a pivotal role in attracting tenants.
To further contextualize these figures, let's consider the broader implications for landlords and investors. The FMR being above the market rent could mean that landlords who accept Section 8 vouchers in Lake Milton may see their rental income guaranteed at a level slightly above what they would typically receive from market-rate tenants. This provides a financial advantage, especially in a neighborhood where rental demand is strong.
Moreover, the lower median home value implies that there is less competition from owner-occupied homes, potentially making it easier for landlords to find and retain tenants. The presence of a significant number of renters also suggests a diverse demographic profile, which can be advantageous for maintaining a steady tenant pool.
In summary, ZIP 44429 (Lake Milton, OH) appears to be a value pocket within the Youngstown-Warren MSA, offering a mix of affordability and strong rental demand. For those looking to invest in Section 8 properties, this ZIP code presents an attractive opportunity due to its favorable combination of high renter share and below-metro home values.
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.