Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, 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 | $760 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $145,736 | 0.69% | D |
| 3BR | $1,300 | $219,456 | 0.59% | F |
| 4BR | $1,370 | $281,082 | 0.49% | F |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP code 44440, Mineral Ridge, OH, reveals interesting insights when comparing the Federal Market Rent (FMR) and the actual market rent against the median home value. For a two-bedroom unit, the annualized FMR for FY 2024 is $860, while the Census ACS market rent is $819.
To calculate the gross yield, we divide the annual rental income by the median home value. Using the FMR figure of $860, the annual rental income would be $10,320. Dividing this by the median home value of $198,703 gives us an implied gross yield of approximately 5.2%. On the other hand, using the market rent figure of $819, the annual rental income would be $9,828, resulting in an implied gross yield of around 4.9%.
The lower gross yield based on market rent reflects the reality that many properties in ZIP 44440 might not command the higher FMR rates. Given the 22.4% renter density, it's clear that a significant portion of the population owns their homes, potentially limiting the number of available rental units and thus putting downward pressure on rental rates.
The N/A-day DOM (Days on Market) indicates that there isn't sufficient data to provide an accurate measure of how long rental listings remain on the market before being rented. This could mean either a highly competitive market where rentals are snapped up quickly, or a less active market where listings may linger longer without attracting tenants.
In conclusion, the gross yield based on the market rent of $819 is likely more reflective of the actual rental environment in Mineral Ridge, OH. Landlords and small-portfolio investors should consider the 4.9% gross yield as a more realistic benchmark for their investment calculations in this area.
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.