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OH/Medina County/Westfield Center

Westfield Center, OH

CitySAFMR
Medina County
Found 1 ZIP

City Median Investment Score

115Above average

095130300
BRFMR
Eff. Rent
0 BR$1,260$1,260
1 BR$1,440$1,440
2 BR$1,730$1,730
3 BR$2,230$2,230
4 BR$2,380$1,480
5 BR$2,737Not available
6 BR$3,148Not available
7 BR$3,620Not available
8 BR$4,163Not available

Purchase Price Calculator

Maximum purchase price
$195,161

Cost breakdown

+Likely effective rent$1,730
HUD FMRUsed$1,730
Market rentN/A
Est. payment standardN/A
-Principal and interest-$987
Loan amount$156,129
Down payment$39,032
Rate6.50%
Term30 years
-Operating costs-$543
Property taxes-$195
Insurance-$175
Utilities$0
HOA$0
Management-$173
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,800(71.2% ROI)
Projected value
$210,167
Return breakdown
Property appreciation+$15,006
Loan principal paid down+$5,594
Rental cash flow+$7,200
5-year hold
+$47,621(122.0% ROI)
Projected value
$220,807
Return breakdown
Property appreciation+$25,646
Loan principal paid down+$9,975
Rental cash flow+$12,000
10-year hold
+$102,430(262.4% ROI)
Projected value
$249,822
Return breakdown
Property appreciation+$54,662
Loan principal paid down+$23,769
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

4 BR
1.61
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Westfield Center, OH fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Westfield Center, OH is $1,730 a month. That is down 9.9% from $1,920 in FY 2026. Westfield Center 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 Westfield Center is 65% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Westfield Center, OH
BedroomsFY 2027Change90–110% range
Studio$1,260−10.0%$1,134–$1,386
1BR$1,440−9.4%$1,296–$1,584
2BR$1,730−9.9%$1,557–$1,903
3BR$2,230−9.7%$2,007–$2,453
4BR$2,380−9.8%$2,142–$2,618

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Westfield Center, OH
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,260$1,440$1,730$2,230$2,380
FY 2026$1,400$1,590$1,920$2,470$2,640
FY 2025$1,320$1,490$1,810$2,330$2,500
FY 2024$1,200$1,350$1,640$2,120$2,260
FY 2023$670$790$970$1,260$1,320

Questions about Westfield Center, OH rents

How much will Section 8 pay for a two-bedroom in Westfield Center, OH?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,730, that basic range is $1,557 to $1,903 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 Westfield Center, OH in?

Westfield Center, 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 Westfield Center, OH for FY 2027?

The two-bedroom FMR fell 9.9%, from $1,920 in FY 2026 to $1,730 in FY 2027. Since FY 2023 it has risen 78.4%.

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