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 | $175,558 | 0.57% | F |
| 3BR | $1,300 | $241,405 | 0.54% | F |
| 4BR | $1,370 | $292,261 | 0.47% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 44481, located within the Youngstown-Warren, OH MSA, reveals several key points regarding its suitability for Section 8 landlords and small-portfolio investors.
Firstly, the rent math works favorably. The Fair Market Rent (FMR) for FY 2024 is set at $860, which is higher than the current market rent of $799 according to Census ACS data. This means that landlords participating in the Section 8 program can expect to receive slightly above average market rents, providing a competitive edge in the local rental market.
Secondly, the acquisition cost is relatively low compared to other areas. With a median home value of $224,557, purchasing properties in this ZIP code is more affordable for investors. However, the lack of available data on days on market (DOM) and the percentage of homes that required a price cut suggests that the housing market may be less active or less volatile, which could indicate stability but also potentially slower sales cycles.
Lastly, there is sufficient tenant demand. The ZIP code has a population of 10,206, with 19.8% of residents being renters. This indicates a steady pool of potential tenants who are likely to be interested in affordable housing options, making it easier for landlords to fill vacancies and maintain occupancy rates.
In conclusion, ZIP code 44481 offers a favorable environment for Section 8 landlords and small-portfolio investors. The rent math works in their favor, with FMRs exceeding market rents. Property acquisition is affordable, though the housing market's activity level is unclear. Tenant demand is present, supported by a significant renter population. These factors collectively suggest a positive investment opportunity 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.