Location: Canton-Massillon, OH | Metro: Canton-Massillon, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
ZIP code 44607, located within the Canton-Massillon, OH MSA metro area, offers a unique opportunity for Section 8 portfolio strategies. This area serves best as a cash-flow anchor. The Federal Market Rent (FMR) for ZIP 44607 in fiscal year 2024 is set at $890, providing a consistent baseline for rental income.
The median home value in ZIP 44607 is $91,000, which is significantly lower than the national median home value. This makes the acquisition of properties relatively affordable for investors looking to build a diversified portfolio. However, due to the lack of data on market rents and median income levels, it's essential to rely on the FMR to ensure steady cash flow.
While there is no direct data available regarding the percentage of price cuts or days on market (DOM), the low median home value suggests that the market may be somewhat saturated with affordable housing options. This could indicate that appreciation plays might not yield significant returns compared to other areas with higher median home values and less competition.
The renter share in ZIP 44607 is reported at 0.0%, indicating a predominantly owner-occupied community. This characteristic further supports the notion that this ZIP code is better suited for a cash-flow anchor rather than an appreciation play or a diversifier. With owner-occupied properties being the norm, landlords can expect a stable tenant pool, minimizing the risk of high turnover rates and ensuring predictable cash flow.
In summary, ZIP 44607 should be considered a cash-flow anchor within a Section 8 portfolio strategy. The combination of a low median home value and a reliance on the FMR of $890 ensures that investors can acquire properties at an affordable cost while maintaining a reliable source of rental income.
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.