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Geauga County/Chesterland/44026

44026

ZIPSAFMR
Geauga County, OH
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,110$1,110
1 BR$1,260$1,260
2 BR$1,530$1,530
3 BR$1,960$1,960
4 BR$2,110$2,110
5 BR$2,427Not available
6 BR$2,790Not available
7 BR$3,209Not available
8 BR$3,690Not available

Purchase Price Calculator

Maximum purchase price
$165,441

Cost breakdown

+Likely effective rent$1,530
HUD FMRUsed$1,530
Market rentN/A
Est. payment standardN/A
-Principal and interest-$837
Loan amount$132,353
Down payment$33,088
Rate6.50%
Term30 years
-Operating costs-$493
Property taxes-$165
Insurance-$175
Utilities$0
HOA$0
Management-$153
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,663(74.5% ROI)
Projected value
$178,162
Return breakdown
Property appreciation+$12,721
Loan principal paid down+$4,742
Rental cash flow+$7,200
5-year hold
+$42,196(127.5% ROI)
Projected value
$187,181
Return breakdown
Property appreciation+$21,740
Loan principal paid down+$8,456
Rental cash flow+$12,000
10-year hold
+$90,487(273.5% ROI)
Projected value
$211,778
Return breakdown
Property appreciation+$46,337
Loan principal paid down+$20,149
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 44026 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44026 (Chesterland, OH) is $1,530 a month. That is down 1.9% from $1,560 in FY 2026. Chesterland 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. Among 23 ZIP codes in Geauga County, 44026 has the 6th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44026 is 46% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44026
BedroomsFY 2027Change90–110% range
Studio$1,110−2.6%$999–$1,221
1BR$1,260−2.3%$1,134–$1,386
2BR$1,530−1.9%$1,377–$1,683
3BR$1,960−2.0%$1,764–$2,156
4BR$2,110−1.4%$1,899–$2,321

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44026
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,110$1,260$1,530$1,960$2,110
FY 2026$1,140$1,290$1,560$2,000$2,140
FY 2025$990$1,120$1,360$1,750$1,880
FY 2024$1,080$1,220$1,480$1,910$2,040
FY 2023$950$1,080$1,320$1,710$1,810

Two-bedroom rent in nearby Geauga County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44026
44021$1,150−24.8%
44022$1,830+19.6%
44023$1,910+24.8%
44024$1,340−12.4%
44026Current$1,530—
44033$1,250−18.3%
44040$1,910+24.8%
44046$1,060−30.7%
44057$1,310−14.4%
44060$1,430−6.5%
44062$1,010−34.0%
44064$1,290−15.7%

Questions about ZIP 44026 rents

How much will Section 8 pay for a two-bedroom in ZIP 44026?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,530, that basic range is $1,377 to $1,683 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 ZIP 44026 in?

ZIP 44026 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 ZIP 44026 for FY 2027?

The two-bedroom FMR fell 1.9%, from $1,560 in FY 2026 to $1,530 in FY 2027. Since FY 2023 it has risen 15.9%.

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

County fair market rentChesterland, OH fair market rentOH statewide rentsWhat is SAFMR?Data sources