Section 8 Fair Market Rent (FMR) for ZIP 44511 - 2027

Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, OH MSA

Investment Score for ZIP 44511

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$105,402

1% Rule

0.96%

Annual Yield

11.5%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$760
1 Bedroom	$810
2 Bedrooms	$1,010
3 Bedrooms	$1,300
4 Bedrooms	$1,380
5 Bedrooms	$1,601
6 Bedrooms	$1,793
7 Bedrooms	$1,936
8 Bedrooms	$2,033

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,010	$105,402	0.96%	C
3BR	$1,300	$165,056	0.79%	D
4BR	$1,380	$188,928	0.73%	D
5BR	$1,601	$212,027	0.76%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

18,909

Median Household Income

$56,880

Housing Units

9,337

Renter Percentage

21.4%

Occupancy Rate

93.1%

Renter Occupied

1,860

To determine if you should invest in ZIP 44511 (Youngstown, OH) for Section 8 properties, follow these steps:

Does FMR $860 (zip FY 2024) clear debt service on a $151,718 property?
- Yes: The Fair Market Rent (FMR) of $860 can cover the debt service, assuming your financing terms allow for this. For a property valued at $151,718, the FMR should be sufficient if the monthly mortgage payment is below $860.
- No: If the debt service exceeds $860, then this area is not financially viable for Section 8 tenants. You need to ensure that the FMR covers at least the mortgage and other fixed costs to break even.
Is market rent $1,215 (ZORI) above, at, or below FMR?
- Above: With a Zillow Rent Index (ZORI) of $1,215, the market rent is significantly higher than the FMR of $860. This suggests that landlords might prefer market-rate tenants over Section 8, reducing the pool of available properties for Section 8 vouchers.
- At: If market conditions change and ZORI equals the FMR, competition between Section 8 and market-rate tenants would be balanced. However, based on current data, this scenario does not apply.
- Below: If market rent were to drop below $860, Section 8 tenants would be more attractive, but the current ZORI of $1,215 indicates otherwise.
Are 21.4% renters + 21-day DOM enough demand?
- It Depends: A rental rate of 21.4% means that slightly more than one-fifth of the population rents their homes. While this percentage is not exceptionally high, the demand for rental properties could still be strong if there are enough vacancies. A 21-day Days on Market (DOM) is relatively short, indicating that properties are being rented out fairly quickly. However, this must be weighed against the number of Section 8 vouchers in circulation and how many are actively seeking housing.

In conclusion, investing in ZIP 44511 for Section 8 properties hinges on your ability to finance a property where the monthly mortgage payment is less than $860. Additionally, the higher market rent suggests preference for non-Section 8 tenants, which could limit opportunities. Lastly, the rental demand is moderate, with quick turnover, but the ultimate viability depends on the local supply of Section 8 vouchers.

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.