Location: Seneca County, OH | Metro: Seneca County, OH
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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $153,375 | 0.78% | D |
U.S. Census Bureau data (2024)
The ZIP code 44815 is situated in a tranquil suburban neighborhood, characterized by a relatively small population of 710 residents. With only 15.5% of the residents being renters, it indicates a community primarily composed of homeowners. The median household income in this area stands at $74,688, suggesting a middle-class community where residents have stable financial situations. The median home value of $131,740 further supports this, indicating that homes here are affordable and likely appeal to first-time buyers and families.
Turning to the rental economics, the Fair Market Rent (FMR) for ZIP 44815, as determined by the metro area for fiscal year 2026, is set at $970. However, the actual market rent, according to the Census American Community Survey (ACS), is significantly lower at $708. This discrepancy between the FMR and the market rent presents an opportunity for landlords and investors involved with Section 8 housing. The lower market rent means that properties can be rented out at the FMR rate, providing a higher return on investment compared to the local market rates.
Given these conditions, ZIP 44815 could suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stable demand for subsidized housing and the potential for higher rents due to the FMR exceeding market rates make it a viable option. On the other hand, value-add buyers could leverage the difference between FMR and market rent to improve property values and rents over time, enhancing their investment returns through strategic upgrades and management practices.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.