Location: Canton-Massillon, 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 | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The dynamics of the ZIP 44670 rental market paint a picture of stability rather than significant flux. With a Fair Market Rent (FMR) set at $900 for fiscal year 2024, landlords can confidently offer units that meet the benchmark without overpricing. The lack of available data on market rent, price-cut share, days on market (DOM), and median home value suggests a market that is not highly competitive or volatile. This absence of detailed market indicators points towards a balanced situation where neither supply nor demand is overwhelming the other.
A standout feature of ZIP 44670 is the reported 0.0% renter share. This statistic implies that the majority of residents own their homes, indicating a potentially lower long-term housing pressure compared to areas with higher renter populations. Homeownership often stabilizes a market, as it reduces the number of units that are constantly being rented and re-rented, which can lead to fluctuating prices and demand. However, it also means that landlords and small-portfolio investors must carefully manage their properties to attract and retain tenants, given the limited pool of renters.
The FMR serves as a crucial reference point for landlords in ZIP 44670. Setting rents below or at this level ensures compliance with federal guidelines and makes units accessible to those who qualify for assistance programs. Since the market rent is currently unreported, landlords might find it prudent to keep rents close to the FMR to avoid pricing themselves out of the market.
In conclusion, ZIP 44670 appears to be a stable market with homeownership dominating the landscape. Landlords should focus on maintaining competitive rents around the $900 FMR mark and providing quality properties to cater to the niche rental market. The dynamics suggest a steady environment where careful management and strategic positioning can yield consistent returns.
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.