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 | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,000 | $150,400 | 0.66% | D |
| 3BR | $1,290 | $227,554 | 0.57% | F |
| 4BR | $1,320 | $293,161 | 0.45% | F |
U.S. Census Bureau data (2024)
New Waterford, OH, located in ZIP code 44445 within the Columbiana County, OH metro area, presents a unique opportunity for inclusion in a Section 8 portfolio strategy. This ZIP code should be considered primarily as an appreciation play, despite the lack of specific metrics for price-cut share and days on market (DOM).
The key rationale for this categorization lies in the significant spread between the Fair Market Rent (FMR) for the metro area, which stands at $1,040 for fiscal year 2026, and the current market rent of $593. This disparity suggests that rental properties in New Waterford can be rented at rates well above the current market average, thereby providing a potential for increased property values over time as rents rise to meet the FMR levels.
Moreover, the median home value of $196,947 indicates a relatively affordable market entry point compared to other areas in Ohio. As rental rates align with the FMR, property values are likely to appreciate, making this ZIP code an attractive investment for those looking to build long-term equity.
While the ZIP code also exhibits characteristics of a diversifier, with a renter share of 18.3% and a median income of $85,188, these factors do not outweigh the potential for appreciation. The moderate renter share and solid median income suggest that there is a stable tenant base, but the primary driver for investment should be the expectation of capital gains through property value appreciation.
In summary, ZIP 44445 is best positioned as an appreciation play within a Section 8 portfolio strategy, given the substantial gap between the current market rent and the FMR, along with the reasonable median home value that supports future growth.
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.