FMR is below market; voucher rent may lag private rents.
0.84
1 BR
1 BR- 44131
1.22ratio
FMR$1,430
Market$1,170
vs market+$260
FMR is above market; underwrite to market rent.
1.22
2 BR
2 BR- 44131
1.39ratio
FMR$1,740
Market$1,250
vs market+$490
FMR is above market; underwrite to market rent.
1.39
3 BR
3 BR- 44131
1.34ratio
FMR$2,220
Market$1,660
vs market+$560
FMR is above market; underwrite to market rent.
1.34
4 BR
4 BR- 44131
1.19ratio
FMR$2,400
Market$2,010
vs market+$390
FMR is above market; underwrite to market rent.
1.19
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Independence, OH fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Independence, OH is $1,740 a month. That is down 5.4% from $1,840 in FY 2026. Independence is in the Cleveland, OH HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Ohio is $1,048, so Independence is 66% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Independence, OH
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,340
$1,260
−6.0%
$1,134–$1,386
1BR
$1,520
$1,430
−5.9%
$1,287–$1,573
2BR
$1,840
$1,740
−5.4%
$1,566–$1,914
3BR
$2,370
$2,220
−6.3%
$1,998–$2,442
4BR
$2,530
$2,400
−5.1%
$2,160–$2,640
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Independence, OH
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,260
$1,430
$1,740
$2,220
$2,400
FY 2026
$1,340
$1,520
$1,840
$2,370
$2,530
FY 2025
$1,260
$1,430
$1,730
$2,220
$2,390
FY 2024
$1,170
$1,320
$1,600
$2,070
$2,200
FY 2023
$1,010
$1,150
$1,400
$1,820
$1,920
Questions about Independence, OH rents
How much will Section 8 pay for a two-bedroom in Independence, OH?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,740, that basic range is $1,566 to $1,914 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Independence, OH in?
Independence, OH is in the Cleveland, OH HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Independence, OH for FY 2027?
The two-bedroom FMR fell 5.4%, from $1,840 in FY 2026 to $1,740 in FY 2027. Since FY 2023 it has risen 24.3%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set