Section 8 Fair Market Rent (FMR) for ZIP 44646 - 2027

Investment Score for ZIP 44646

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$830
2 Bedrooms	$1,050
3 Bedrooms	$1,330
4 Bedrooms	$1,420
5 Bedrooms	$1,647
6 Bedrooms	$1,845
7 Bedrooms	$1,993
8 Bedrooms	$2,093

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$830	$104,655	0.79%	D
2BR	$1,050	$155,241	0.68%	D
3BR	$1,330	$224,177	0.59%	F
4BR	$1,420	$344,260	0.41%	F
5BR	$1,647	$474,304	0.35%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 44646 (Massillon, OH) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 44646 in Massillon, Ohio, indicate that the rental market is quite competitive for those relying on Section 8 vouchers. The FMRs for 2026 are as follows: - 0BR: $740 - 1BR: $840 - 2BR: $1080 - 3BR: $1360 - 4BR: $1440 These figures represent the maximum amount that a Section 8 voucher holder can be expected to pay towards rent. However, the actual rents in the area are significantly higher. For instance, the Zillow median price for a 2BR unit is $149,002, which translates into a monthly rental cost of approximately $745 based on a typical price-to-rent ratio of 11.5x. This means that even a modest 2BR unit would cost about $745 per month, which is already above the FMR for a 1BR unit ($840). Therefore, voucher holders are constrained by the limited availability of units that fall within their budget, particularly for larger units like 2BR, 3BR, and 4BR. #### Affordability & Renter Profile ZIP code 44646 has a population of 47,741, with 32.2% of residents being renters. The median household income is $69,179, and the occupancy rate is 95.4%, indicating a fairly tight rental market. Given that the FMR for a 2BR unit is $1080, which represents 18.7% of the median income, it suggests that the majority of renters in this area are likely middle-income earners who can afford slightly higher rents but still find the market challenging. The high occupancy rate and the relatively low renter percentage suggest that there is a strong demand for housing in Massillon, making it a competitive market for both tenants and landlords. The disparity between the FMR and actual rents indicates that the market is not oversupplied, and there is a significant gap between what voucher holders can afford and what is available. #### Investor Angle From an investor’s perspective, the ZIP code 44646 presents a mixed picture when considering cash flow and investment grade. The FMRs are lower than the actual market rents, which means that properties rented through Section 8 vouchers will generate less revenue compared to market-rate rentals. For example, a 2BR unit with a Zillow median price of $149,002 would typically rent for around $745 per month. However, under Section 8, the maximum rent would be capped at $1080. This implies that if an investor were to rely solely on Section 8 vouchers, they would have to accept a lower rental income, which could impact cash flow negatively. Moreover, the investment grade in this ZIP code would depend heavily on the ability to secure tenants willing to pay the higher market rates. If an investor focuses exclusively on Section 8 tenants, they might face challenges in achieving positive cash flow due to the lower rent ceilings imposed by the government. #### Specific Actionable Insights 1. **Target Smaller Units**: Investors should focus on smaller units such as 0BR and 1BR apartments, as these are more likely to be within the FMR limits for Section 8 tenants. For instance, a 1BR unit at $840 per month is more affordable and can still provide reasonable returns. 2. **Consider Mixed Tenancy**: To balance cash flow, investors might consider a mixed tenancy approach where some units are rented to market-rate tenants while others are rented to Section 8 voucher holders. This way, the overall portfolio can achieve better financial performance. 3. **Explore Government Programs**: Engage with local government programs that offer incentives for landlords who participate in Section 8. These programs can help offset the lower rental income and improve the investment grade. #### Bottom Line Given the constraints imposed by the FMR and the higher actual market rents, the recommendation for Section 8-focused investors in ZIP code 44646 is to **Hold**. While the market is tight and there is a strong demand for housing, the lower FMRs make it challenging to achieve positive cash flow without diversifying tenancy. Investors should carefully evaluate their portfolio mix and consider targeting smaller units or exploring additional government incentives to improve profitability.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.