FMR is near market; voucher and private rents are aligned.
0.98
1 BR
1 BR- 44054
1.15ratio
FMR$1,080
Market$940
vs market+$140
FMR is above market; underwrite to market rent.
1.15
2 BR
2 BR- 44054
1.27ratio
FMR$1,310
Market$1,030
vs market+$280
FMR is above market; underwrite to market rent.
1.27
3 BR
3 BR- 44054
1.01ratio
FMR$1,670
Market$1,650
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.01
4 BR
4 BR- 44054
0.75ratio
FMR$1,810
Market$2,420
vs market-$610
FMR is below market; voucher rent may lag private rents.
0.75
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
--
Sheffield Lake, OH fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Sheffield Lake, OH is $1,310 a month. That is down 3.7% from $1,360 in FY 2026. Sheffield Lake 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 Sheffield Lake is 25% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Sheffield Lake, OH
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$990
$950
−4.0%
$855–$1,045
1BR
$1,130
$1,080
−4.4%
$972–$1,188
2BR
$1,360
$1,310
−3.7%
$1,179–$1,441
3BR
$1,750
$1,670
−4.6%
$1,503–$1,837
4BR
$1,870
$1,810
−3.2%
$1,629–$1,991
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Sheffield Lake, OH
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$950
$1,080
$1,310
$1,670
$1,810
FY 2026
$990
$1,130
$1,360
$1,750
$1,870
FY 2025
$940
$1,060
$1,290
$1,660
$1,780
FY 2024
$870
$980
$1,190
$1,540
$1,640
FY 2023
$780
$900
$1,090
$1,420
$1,500
Questions about Sheffield Lake, OH rents
How much will Section 8 pay for a two-bedroom in Sheffield Lake, OH?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,310, that basic range is $1,179 to $1,441 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 Sheffield Lake, OH in?
Sheffield Lake, 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 Sheffield Lake, OH for FY 2027?
The two-bedroom FMR fell 3.7%, from $1,360 in FY 2026 to $1,310 in FY 2027. Since FY 2023 it has risen 20.2%.
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