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 |
|---|---|---|---|---|
| 3BR | $1,300 | $40,069 | 3.24% | A+ |
U.S. Census Bureau data (2024)
The ZIP code 44506 is situated in a neighborhood characterized by a modest population of 2,096 residents, with over half, specifically 50.7%, being renters. The median income in this area is notably low at $21,018, reflecting a community where many households rely on financial assistance. This is further underscored by the median home value of $37,178, which is significantly below average compared to broader regional standards.
From an investment perspective, the rental economics in ZIP 44506 are crucial. The Fair Market Rent (FMR) for the area, as set by HUD for fiscal year 2024, is $860. However, the actual market rent, according to the latest Census ACS data, stands at $701. This discrepancy suggests that there is potential for landlords to increase rents closer to the FMR without losing tenants, given the substantial difference between the two figures.
Considering the profile of this ZIP code, it would be well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the high percentage of renters and the likelihood of voucher usage make it a stable source of income, particularly as the FMR exceeds the current market rent. For those inclined towards value-add strategies, the opportunity to renovate properties and command higher rents closer to the FMR presents a path to higher returns on investment. However, such an approach requires a deeper understanding of local regulations and tenant needs to ensure compliance and satisfaction.
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.