Location: Columbiana County, OH | Metro: Columbiana County, OH
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 | $830 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $144,279 | 0.74% | D |
| 3BR | $1,380 | $203,717 | 0.68% | D |
| 4BR | $1,410 | $249,428 | 0.57% | F |
U.S. Census Bureau data (2024)
The ZIP code 44431, encompassing Leetonia, OH, presents a market in motion characterized by a distinct balance between rental and ownership trends. The Fair Market Rent (FMR) stands at $1,040, reflecting the metro area's forecast for fiscal year 2026. This figure is notably higher than the actual market rent of $901, suggesting a potential upward trajectory in rental costs as the market approaches the projected FMR.
The median home value in Leetonia is $176,784, indicating a relatively stable housing market. However, the absence of data on the percentage of price-cut shares and days on market (DOM) makes it challenging to conclusively determine whether supply outpaces demand or vice versa. Nonetheless, the gap between the FMR and the current market rent hints at a slight bias towards rising rents, which could imply a tightening market where demand might be gradually catching up with supply.
A critical insight comes from the 13.3% renter share, which is lower than many metropolitan areas but still significant for understanding long-term housing pressures. This percentage suggests that while the majority of residents prefer homeownership, a notable minority rely on rentals. Over time, this could exert upward pressure on rental prices if the number of renters increases, driven by factors such as population growth or changes in economic conditions that affect affordability of homeownership.
In summary, the dynamics of ZIP 44431 point towards a market where rental prices are likely to rise towards the FMR, indicating a gradual shift in favor of demand. The lower renter share signals a preference for homeownership among residents, yet it also highlights a segment of the population that could influence future rental market trends. Landlords and small-portfolio investors should monitor these indicators closely to adjust their strategies accordingly.
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.