Location: Wayne County, OH | Metro: Canton-Massillon, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
Navarre, OH, located in Stark County, is home to 10,345 residents. With 17.6% of the population renting, it stands out as a community where homeownership is significantly more prevalent than rental housing. The median income in Navarre is $73,098, which is relatively strong compared to many other ZIP codes. Additionally, the median home value is $210,007, indicating that property values are robust and likely appreciated over time.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for Navarre in fiscal year 2024 is set at $860. This figure is slightly below the market rent, which is estimated at $879 according to Census ACS data. Landlords and small-portfolio investors should be aware that the difference between the FMR and the market rent is minimal, suggesting that there might be limited financial incentive to participate in the Section 8 program solely based on rent amounts.
The data signature for ZIP 44662 reads as stable. The high median home value and median income indicate a steady economic foundation. Furthermore, the slight disparity between the FMR and market rent suggests a balanced rental market that is unlikely to experience significant fluctuations. This stability can be beneficial for landlords and investors looking for predictable returns and low risk.
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.