Location: Canton-Massillon, OH | Metro: Canton-Massillon, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,440 |
| 5 Bedrooms | $1,670 |
| 6 Bedrooms | $1,870 |
| 7 Bedrooms | $2,020 |
| 8 Bedrooms | $2,121 |
U.S. Census Bureau data (2024)
The ZIP code 44705, located in Canton, OH, within the Canton-Massillon, OH MSA metro area, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the favorable financial metrics that support long-term stability and consistent rental income.
Firstly, the Fair Market Rent (FMR) for ZIP 44705 in fiscal year 2024 is set at $920. Comparing this to the current market rent of $1,031, there is a manageable spread of $111. This indicates that landlords can expect to receive rental payments slightly below the market rate but still within a reasonable range. The FMR ensures that tenants have access to affordable housing while providing landlords with predictable income.
The median home value in ZIP 44705 is $97,690, which is relatively low compared to other areas. This factor contributes to the affordability of the region, making it attractive for both tenants and landlords. With a lower median home value, the cost of acquiring properties in this area is also more accessible, allowing for a higher potential return on investment relative to property costs.
The ZIP code's 0.3% price-cut share suggests that only a minimal portion of listings required price reductions, indicating a stable market where properties generally hold their value without significant fluctuations. The N/A-day DOM (Days on Market) implies that homes are selling quickly, further supporting the notion of a steady and active real estate market.
A key aspect of a cash-flow anchor is the ability to generate reliable income over time. In ZIP 44705, the median income of $43,439 aligns well with the FMR, ensuring that a substantial number of residents can afford the rents supported by the Section 8 program. Additionally, with a 42.8% renter share, there is a considerable demand for rental properties, reducing the risk of vacancies and providing a solid tenant pool.
In summary, ZIP 44705 is best suited as a cash-flow anchor due to its alignment with Section 8 guidelines, manageable rent spreads, and stable market conditions. These factors ensure that landlords can maintain a steady stream of income while minimizing risks associated with rapid market changes or high vacancy rates.
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.