Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The Section 8 analysis for ZIP code 44439 centers around the discrepancy between the Fair Market Rent (FMR) and the actual market rent. As of the fiscal year 2024, the FMR for ZIP 44439 is set at $910. However, the current market rent is not available, which poses a challenge for direct comparison. Given the FMR figure alone, we can infer certain aspects of the rental market dynamics.
With an FMR of $910, landlords and small-portfolio investors must consider the potential yield and risks associated with accepting Section 8 tenants. The median income in ZIP 44439 is $87,868, indicating a relatively stable economic environment. Yet, only 20.3% of residents are renters, suggesting a lower demand for rental properties compared to owner-occupied homes. This could mean that landlords who rely on Section 8 vouchers might find themselves in a competitive market where attracting tenants could be challenging.
In the absence of current market rent data, it's important to recognize that if the FMR exceeds the market rent, landlords could benefit from a higher guaranteed income through Section 8 vouchers. This scenario would make ZIP 44439 a yield play, as landlords could potentially charge less than the FMR but still receive the full amount from the government. Conversely, if the market rent surpasses the FMR, landlords might face the cost of subsidizing the difference between the voucher payment and the market rate, thereby reducing their overall profitability.
Given the economic context, landlords should carefully evaluate the costs and benefits of accepting Section 8 tenants. While the median home value is not specified, the median income provides a benchmark for assessing the financial health of potential tenants. Accepting Section 8 vouchers can offer a steady stream of income but requires a thorough understanding of the local rental market and the specific needs of voucher holders.
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.