Location: Columbiana County, OH | Metro: Akron, 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 | $710 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $790 | $88,410 | 0.89% | C |
| 2BR | $1,000 | $133,672 | 0.75% | D |
| 3BR | $1,270 | $179,563 | 0.71% | D |
| 4BR | $1,360 | $232,640 | 0.58% | F |
| 5BR | $1,578 | $288,604 | 0.55% | F |
U.S. Census Bureau data (2024)
Alliance, OH, located in ZIP code 44601, is a modest-sized community with a population of 32,696. A significant portion of the residents—36.6%—are renters, indicating a substantial demand for rental properties. The median household income in the area is $61,965, which places it in a middle-income bracket, suitable for a diverse range of tenants. The median home value stands at $157,975, reflecting an affordable housing market.
The rent economics in ZIP 44601 are favorable for both hands-off and hands-on investors. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $930, slightly above the market rent, as indicated by the Zillow Observed Rent Index (ZORI), which is $913. This suggests that Section 8 vouchers can cover the majority of market rents, making it easier for landlords to attract tenants without subsidizing the difference themselves.
For hands-off operators, Alliance offers a stable environment where the government's rental assistance program can reliably support tenant payments, ensuring consistent cash flow. However, the area also presents opportunities for value-add buyers who can improve property conditions and potentially command higher rents, leveraging the slight premium in FMR over market rates.
In conclusion, ZIP 44601 in Alliance, OH, is well-suited for Section 8 investment due to its moderate population size, significant rental demand, and income levels that align with the affordability of the housing stock. The balance between FMR and market rent makes it attractive for both passive and active investors, depending on their strategy and risk tolerance.
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.