Location: Canton-Massillon, OH | Metro: Canton-Massillon, 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 | $740 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $146,961 | 0.72% | D |
| 3BR | $1,340 | $182,012 | 0.74% | D |
U.S. Census Bureau data (2024)
The Section 8 cap-rate analysis for ZIP 44613, Brewster, OH, reveals some key insights into potential investment returns. To start, using the Fair Market Rent (FMR) for a 2-bedroom unit at $900 per month, the annualized income would be $10,800. Given the median home value of $162,819, the implied gross yield for a Section 8 property would be approximately 6.63%. This calculation is derived from dividing the annual rental income by the property value.
On the other hand, if we consider the market rent of $949 per month, the annualized income increases to $11,388. Using the same median home value, this scenario implies a gross yield of around 7.00%. The difference between these two yields is significant, reflecting the higher income potential from market rents versus government-set rates.
Given the 29.1% renter density in Brewster, it's important to note that the majority of homeowners are likely not participating in the Section 8 program. This suggests that relying solely on FMR rates might not be the most realistic approach for all properties in the area. However, the lack of data on days on market (DOM) makes it challenging to predict how quickly a property could be leased under either scenario.
Investors should consider the market conditions and the demand for affordable housing when deciding whether to accept Section 8 tenants or seek market-rate renters. While the FMR rate provides a stable income source, the market rent offers a slightly better return on investment. The choice between these options depends largely on the investor's risk tolerance and the specific property's appeal to both types of tenants.
In summary, the gross yield for a Section 8 property based on FMR is 6.63%, while the gross yield for a market-rate property is 7.00%. The latter represents a higher return but requires an assessment of the local rental market and the property's ability to attract market-rate tenants.
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.