Location: Erie County, OH | Metro: Erie County, OH HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
The ZIP code 44871 in Unknown, OH presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the lack of data on market rent compared to the $1,110 Fair Market Rent (FMR) for fiscal year 2026, which is based on metro area averages. This disparity can lead to higher costs associated with finding and screening new tenants, as well as potential delays in securing new leases.
Vacancy exposure is another issue, with no available data on the days on market (DOM) for rental properties. This uncertainty can result in extended periods where the property generates no income, increasing financial pressure on the landlord. The absence of information regarding the typical home value and median income in the area also poses a risk. Without these figures, it's difficult to assess the likelihood of tenants being able to afford their portion of the rent, leading to potential defaults and eviction processes.
Despite these risks, the high renter share in ZIP 44871, though unspecified, generally indicates a strong demand for rental housing. This increased competition for rental units often translates into higher demand for Section 8 vouchers, which can stabilize occupancy rates. However, the exact percentage is crucial for understanding the depth of this demand and should be sought out for a more precise analysis.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.