Section 8 Fair Market Rent (FMR) for ZIP 44702 - 2027
Location: Canton-Massillon, OH | Metro: Canton-Massillon, OH MSA
FY 2027 Fair Market Rent Rates
| 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 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$12,411
If you're considering investing in ZIP code 44702 for Section 8 properties, follow these steps:
- Does FMR ($860) cover debt service on a property?
- No. The Fair Market Rent (FMR) is $860 for FY 2024. Given the high poverty rate and low median income, it's unlikely that this FMR will cover the debt service on most properties.
- Is market rent ($298) above, at, or below FMR?
- Below. According to Census ACS data, the average market rent is $298, which is significantly below the FMR of $860. This suggests that tenants might struggle to pay the higher FMR.
- Are 95.1% renters + N/A-day DOM enough demand?
- It depends. The area has a high concentration of renters, with 95.1% of occupied units being renter-occupied. However, the high poverty rate (59.1%) and low median income ($17,137) indicate that there may be limited demand for properties priced at the FMR level. Additionally, the high turnover rate (32.8% moved since the previous year) could pose challenges for maintaining consistent occupancy.
The economic indicators suggest that while there is strong demand for rental housing, the ability of residents to afford higher rents may be limited. Landlords should carefully evaluate their financial projections and consider the local economic conditions before investing in Section 8 properties in ZIP 44702.
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.