Location: Canton-Massillon, OH | Metro: Canton-Massillon, OH MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
The ZIP code 44799 in Unknown, Ohio, presents a unique challenge for both renters and landlords due to limited data on median income and market rate rental prices. However, with the Federal Market Rent (FMR) set at $910 for zip FY 2024, we can infer some critical insights.
Affordability is a significant concern without specific income figures, but if we assume that the typical household income aligns closely with the national average, the $910 voucher payment could be a substantial portion of their budget. This suggests that many households might struggle to pay much above the voucher rate without financial assistance.
The lack of precise percentages for renters and population size means we must rely on broader trends. Generally, when there is a high percentage of renters in an area, competition among landlords increases, driving down rents to match what tenants can afford. In ZIP 44799, this dynamic could be particularly pronounced given the reliance on vouchers and the potential for lower incomes.
Landlords considering their strategy should focus on the voucher program as a stable source of income. The fixed payment of $910 provides predictability compared to the uncertainty of market rates in areas with incomplete economic data. However, landlords should also be prepared for a competitive environment where many units may be priced around the voucher rate to attract tenants.
Takeaway: For landlords in ZIP 44799, participating in the voucher program ensures a reliable income stream. Cash-paying tenants may be harder to find due to the affordability gap, making voucher tenants a safer bet. Landlords should maintain units that meet voucher standards to compete effectively in this market.
Data Sources: FMR data from HUD (2027).
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.