Location: Canton-Massillon, OH | Metro: Canton-Massillon, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 44615, located in Carrollton, OH, presents a market in motion with distinct dynamics that shape its current state. The Fair Market Rent (FMR) for the area is set at $870 for the fiscal year 2024, indicating the government's benchmark for rental affordability. In contrast, the actual market rent, as reported by the Census American Community Survey, stands at $955. This suggests that the private market rents are slightly higher than the government's guidelines, pointing towards a scenario where demand might be keeping pace with supply but not significantly exceeding it.
The median home value in ZIP 44615 is $178,723. While this figure alone doesn't reveal the supply-demand balance, it provides insight into the overall cost of homeownership. The lack of data on price-cut share and days on market (DOM) prevents a definitive assessment of whether supply is outpacing demand or vice versa. However, the gap between the FMR and market rent implies that landlords and investors can expect a slight premium over the government-set rates, but must remain competitive with market conditions.
A noteworthy aspect of the Carrollton market is the 19.5% share of renters. This percentage indicates a significant portion of the population opts for renting rather than owning property. Over the long term, this trend suggests a steady demand for rental properties, which could translate into consistent opportunities for landlords and small-portfolio investors. The presence of renters often signifies a demographic that includes students, young professionals, and families looking for flexible living arrangements, all of whom contribute to maintaining a stable rental market.
In summary, ZIP 44615 operates under a balanced supply-demand relationship, with market rents slightly above government guidelines. The significant renter share points to a dynamic housing landscape where rental properties will continue to play a crucial role in meeting the needs of the local population. For investors, this means an ongoing opportunity to capitalize on a market that supports both ownership and rental investments.
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.