Location: Huron County, OH | Metro: Cleveland, OH HUD Metro FMR Area
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 | $970 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $220,639 | 0.57% | F |
| 3BR | $1,580 | $303,663 | 0.52% | F |
| 4BR | $1,860 | $347,253 | 0.54% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 44889, located in Wakeman, OH, reveals several key points. The HUD Fair Market Rent (FMR) for this area is set at $960 per month for the fiscal year 2024. In contrast, the market rent based on Census ACS data stands at $1,078 per month. This indicates that voucher tenants will generally cashflow at the FMR rate, but landlords will need to rely on premium units to maintain profitability.
To further analyze the investment potential, consider the median home value in ZIP 44889, which is $271,454. Using this figure, we can calculate the rent-to-price ratio. With an average monthly rent of $1,078, the annual rent would be approximately $12,936. Dividing this by the median home value yields a rent-to-price ratio of about 0.00476, or roughly 0.48%. This low ratio suggests that rental income alone may not cover the cost of owning a property outright, making it less attractive for buy-and-hold strategies focused purely on rental yield.
In terms of the days on market (DOM) and the percentage of price cuts, the data is not available for ZIP 44889. However, these metrics are crucial for understanding the dynamics between renting and buying. A high DOM or frequent price cuts indicate a buyer's market where rental properties might struggle to compete with affordable home purchases. Conversely, a low DOM and minimal price cuts suggest a seller's market, where rental properties could be more appealing due to higher housing costs.
The strongest investor angle in ZIP 44889 is likely stability. Given the consistent demand for affordable housing and the relatively low rent-to-price ratio, investors can expect steady cash flow from premium units while also benefiting from the long-term stability of the Section 8 program. This makes it an ideal location for those seeking a reliable source of passive income with minimal risk of vacancy or rent delinquency.
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.