Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, OH MSA
| 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 |
The market in ZIP 44501, located in Ohio, is currently characterized by a Fair Market Rent (FMR) of $860 for the fiscal year 2024. This figure serves as a benchmark for rental properties within the area, indicating the average rent that is considered affordable for low-income families.
Despite the lack of specific data on market rent, days on market (DOM), and median home value, the absence of these metrics suggests an incomplete picture, which could be due to limited data availability or a less active real estate market. The N/A% price-cut share further implies that there might not be a significant trend of landlords lowering their rents to attract tenants, which can be indicative of a balanced or slightly tight market where demand meets supply adequately.
The unknown percentage of renters in the area provides insight into the long-term housing pressures. In areas where renter share is high, it often reflects a greater demand for rental units over owned homes, potentially signaling ongoing housing pressures. Conversely, a lower renter share might suggest a preference for homeownership or a different economic situation. However, without the exact percentage, it's difficult to draw definitive conclusions about the housing dynamics in ZIP 44501.
The overall snapshot of ZIP 44501 suggests a market that is not dominated by either supply or demand but rather one that is in flux. Landlords and small-portfolio investors should closely monitor trends in rental prices and the number of available units to understand if the market is moving towards a surplus or shortage of rental properties. This will help them make informed decisions regarding property management and investment strategies.
Data Sources: FMR data from HUD (2027).
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.