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 | $780 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $42,949 | 2.4% | A+ |
| 3BR | $1,330 | $43,609 | 3.05% | A+ |
| 4BR | $1,410 | $49,613 | 2.84% | A+ |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP 44507 in Youngstown, OH, reveals interesting insights into the potential returns for landlords and small-portfolio investors. The Fair Market Rent (FMR) for a 2-bedroom apartment in FY 2024 is set at $860 annually. Meanwhile, the market rent based on Census ACS data stands at $705 annually.
To derive the gross yield, we compare these rental figures against the median home value of $43,241. For the FMR scenario, the annualized rent of $860 implies a gross yield of approximately 1.99%. This calculation is straightforward: divide the annual rent by the property value and multiply by 100 to get the percentage. In contrast, the market rent of $705 suggests a lower gross yield of about 1.63%.
Given the 50.0% renter density in the area, it's important to consider the implications for both scenarios. While the FMR provides a higher gross yield, it is typically less flexible and can be subject to regulatory changes. The market rent, although offering a slightly lower gross yield, reflects the current demand and willingness to pay among renters in ZIP 44507.
The N/A-day DOM (Days on Market) indicates that there is no readily available data on how quickly properties are being rented out. However, with a high renter density, it is reasonable to assume that demand for affordable housing is strong, which could support either the FMR or market rent levels.
In conclusion, while the FMR scenario offers a gross yield of 1.99%, the market rent scenario provides a more realistic gross yield of 1.63%. Landlords and investors should weigh the benefits of the higher yield against the stability and flexibility of market-driven rents when making investment decisions in ZIP 44507.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.