Location: Youngstown-Warren, OH | Metro: Youngstown-Warren, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 44555, located within the Youngstown-Warren, OH MSA, highlights several key considerations. The Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) for this area in fiscal year 2024 is $860. However, without specific market rent data for comparison, it's challenging to determine the exact cashflow potential of voucher tenants. Based on typical market conditions, voucher tenants in ZIP 44555 would likely cashflow at FMR rates, though this can vary depending on unit size and condition.
The median home value in ZIP 44555 is currently unavailable, which makes deriving an accurate rent-to-price ratio difficult. This metric is crucial for understanding the broader real estate market dynamics and how rental properties compare to homeownership in terms of value. Without this information, we cannot fully assess the rent-vs-buy dynamics, but generally, areas with lower median home values tend to favor rental investments due to affordability concerns among potential buyers.
Additionally, the lack of data on the median days on market (DOM) and the percentage of price cuts in the area means that we cannot provide insights into how quickly properties are selling and at what price adjustments. These factors can influence the attractiveness of the area for both renters and buyers, impacting the overall investment strategy.
In conclusion, while specific market rent data is needed to make precise cashflow projections, the HUD FMR of $860 suggests that voucher tenants in ZIP 44555 would typically generate positive cashflow. The strongest investor angle in this scenario is likely cashflow, given the established FMR rate and the absence of competing market rent data indicating otherwise.
Data Sources: FMR data from HUD (2027). 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.