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OH/Cuyahoga County/Olmsted Falls

Olmsted Falls, OH

CitySAFMR
Cuyahoga County
Found 1 ZIP

City Median Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$1,170
1 BR$1,230$1,260
2 BR$1,490$1,590
3 BR$1,900$2,020
4 BR$2,050$2,260
5 BR$2,358Not available
6 BR$2,711Not available
7 BR$3,118Not available
8 BR$3,585Not available

Purchase Price Calculator

Maximum purchase price
$174,357

Cost breakdown

+Likely effective rent$1,590
HUD FMR$1,490
Market rent$1,640
Est. payment standard (107%)Used$1,590
-Principal and interest-$882
Loan amount$139,485
Down payment$34,871
Rate6.50%
Term30 years
-Operating costs-$508
Property taxes-$174
Insurance-$175
Utilities$0
HOA$0
Management-$159
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$25,604(73.4% ROI)
Projected value
$187,763
Return breakdown
Property appreciation+$13,406
Loan principal paid down+$4,997
Rental cash flow+$7,200
5-year hold
+$43,824(125.7% ROI)
Projected value
$197,269
Return breakdown
Property appreciation+$22,912
Loan principal paid down+$8,912
Rental cash flow+$12,000
10-year hold
+$94,070(269.8% ROI)
Projected value
$223,192
Return breakdown
Property appreciation+$48,835
Loan principal paid down+$21,235
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.89
1 BR
0.97
2 BR
0.91
3 BR
0.91
4 BR
0.80
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Olmsted Falls, OH fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Olmsted Falls, OH is $1,490 a month. That is down 0.7% from $1,500 in FY 2026. Olmsted Falls 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 Olmsted Falls is 42% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Olmsted Falls, OH
BedroomsFY 2027Change90–110% range
Studio$1,080−0.9%$972–$1,188
1BR$1,230−0.8%$1,107–$1,353
2BR$1,490−0.7%$1,341–$1,639
3BR$1,900−1.6%$1,710–$2,090
4BR$2,050−0.5%$1,845–$2,255

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Olmsted Falls, OH
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,230$1,490$1,900$2,050
FY 2026$1,090$1,240$1,500$1,930$2,060
FY 2025$1,060$1,190$1,450$1,860$2,000
FY 2024$990$1,110$1,350$1,750$1,860
FY 2023$870$990$1,210$1,570$1,660

Questions about Olmsted Falls, OH rents

How much will Section 8 pay for a two-bedroom in Olmsted Falls, OH?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,490, that basic range is $1,341 to $1,639 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 Olmsted Falls, OH in?

Olmsted Falls, 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 Olmsted Falls, OH for FY 2027?

The two-bedroom FMR fell 0.7%, from $1,500 in FY 2026 to $1,490 in FY 2027. Since FY 2023 it has risen 23.1%.

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