Location: Canton-Massillon, OH | Metro: Akron, OH MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $222,372 | 0.53% | F |
| 3BR | $1,490 | $264,690 | 0.56% | F |
| 4BR | $1,600 | $362,245 | 0.44% | F |
| 5BR | $1,856 | $498,071 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 44720, located in North Canton, OH, has a population of 39,851, with 28.2% being renters. This indicates that while there is a significant rental market, it is not dominated by renters. The median household income stands at $82,594, which provides context for the affordability of the $1,555 market rent. To understand the depth of voucher demand, we must compare the market rent to the Fair Market Rent (FMR), which is set at $1,000 for FY 2024.
The $1,555 market rent represents approximately 18.8% of the median household income in the area. This suggests that typical rents are relatively high compared to the average income, potentially making it challenging for many residents to afford housing without assistance. The FMR of $1,000, however, is significantly lower than the market rent, indicating that tenants relying on Section 8 vouchers may struggle to find suitable housing options within the ZIP code.
Given these figures, landlords in ZIP 44720 should anticipate a tenant pool that includes individuals and families who require financial assistance to meet housing costs. These tenants will likely be seeking properties that align with the FMR, making it essential for landlords to consider pricing strategies that balance profitability with accessibility for voucher holders. Additionally, landlords should prepare to comply with the administrative requirements associated with accepting Section 8 vouchers, including regular inspections and rent certification processes.
In summary, ZIP 44720 is a mixed market with a notable rental segment but also a substantial number of homeowners. The disparity between the market rent and the FMR highlights the potential challenges for voucher recipients. Landlords should expect tenants who are financially dependent on government assistance and adjust their practices accordingly to remain competitive in this niche market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.