Location: Ashland County, OH | Metro: Ashland County, OH
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,000 |
| 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 44838 is situated in a suburban neighborhood characterized by a relatively small population of 217 residents. This area has a low rental rate, with only 15.0% of the population being renters, indicating a predominantly owner-occupied community. The median household income stands at $55,833, which places it within an average economic bracket. Median home values in the area are recorded at $181,358, suggesting a modest property market.
Turning to the rent economics, the Fair Market Rent (FMR) for ZIP 44838 is set at $970 for the fiscal year 2026, reflecting the cost of housing that is considered fair for the area. However, the actual market rent, as per the Census ACS data, is significantly lower at $717. This discrepancy highlights a potential opportunity for landlords and investors who can leverage the difference between the FMR and the market rent to attract Section 8 tenants while maintaining a reasonable profit margin.
Given these conditions, ZIP 44838 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the area offers a stable environment where the demand for affordable housing, supported by the Section 8 program, aligns well with the local rental rates. On the other hand, for value-add buyers looking to improve properties and potentially increase rents closer to the FMR, there is room to enhance the quality of existing rentals and still remain competitive within the market.
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.