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 real estate landscape in ZIP 44513, Ohio, presents a unique set of conditions that are worth examining for both landlords and small-portfolio investors. The median home value is currently listed as N/A, which suggests limited recent sales data available for comprehensive analysis. However, when combined with the fact that N/A% of listings have been reduced, it indicates a market where sellers are adjusting their prices to align with buyer expectations. This trend typically signals a buyer's market, where potential renters and buyers hold more negotiating power.
The median Days on Market (DOM) for ZIP 44513 stands at N/A days, which is another indicator of a balanced to slightly buyer-friendly market. In a robust seller's market, homes tend to sell quickly, often within a few weeks. A higher DOM suggests that homes are taking longer to sell, indicating that the market might be slowing down, or there could be an oversupply of homes relative to demand.
On the rental side, the Fair Market Rent (FMR) for ZIP 44513 is set at $860 for the fiscal year 2024. When comparing this figure to the current market rent of N/A (N/A), it becomes evident that the rental market is closely aligned with government estimates. This alignment can be seen as a stabilizing factor, suggesting that rents are likely to remain relatively steady without significant upward pressure. For landlords, this means maintaining competitive pricing to attract tenants but also avoiding the risk of setting rents too high, which could lead to vacancies.
For long-term investors considering the appreciation potential in ZIP 44513, the data points to a cautious approach. The combination of a potentially sluggish sales market, indicated by the higher DOM and reduced listing percentages, coupled with the stable rental market, suggests that rapid appreciation is unlikely. Instead, the market appears to be in a period of consolidation, where property values are expected to grow slowly, if at all, over the next 12 to 24 months. This setup favors those who are looking for steady, long-term investments rather than quick gains.
In summary, the current real estate situation in ZIP 44513, characterized by a lack of recent sales data, a higher percentage of reduced listings, and extended DOM periods, alongside a stable rental market, points towards a scenario where pricing power will favor buyers and tenants. Long-term investors should expect modest growth in property values and focus on maintaining occupancy rates through competitive pricing 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.