Location: Canton-Massillon, OH | Metro: Canton-Massillon, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 44639 in fiscal year 2024 is set at $860. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount of rental assistance that can be paid to landlords under the Section 8 program. It does not reflect the actual rent you should charge your tenants.
Despite the lack of specific local market rent data for ZIP 44639, we can still assess the potential demand for Section 8 rentals using the renter share statistic, which stands at 8.6%. This percentage indicates the proportion of renters in the area who could potentially benefit from the Section 8 program. With such a share, there is a notable demand for affordable housing options, suggesting that enrolling a property in Section 8 could attract a steady stream of tenants.
The absence of local acquisition cost data makes it difficult to provide precise guidance on the purchase price of properties in ZIP 44639. However, it's important to note that the FMR of $860 sets an upper limit on what HUD will pay for rent. Landlords must ensure that the acquisition and maintenance costs of their property do not exceed this figure when calculating profitability.
Before deciding to enroll your property in the Section 8 program, it is crucial to verify that your rental unit meets all the necessary inspection criteria. HUD requires that all units participating in the program meet certain standards of health and safety. This includes ensuring that your property is free from lead-based paint hazards and complies with other relevant housing codes.
In summary, the FMR of $860 provides a benchmark for the maximum rental assistance available in ZIP 44639. With an 8.6% renter share, there is a significant demand for affordable housing, making Section 8 a viable option for landlords. Ensure your property meets all inspection requirements to avoid any issues once enrolled in the program.
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.