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Lorain County/Elyria/44035

44035

ZIPSAFMR
Lorain County, OH
Zillow

ZIP Investment Score

86Below average

095130300
BRFMR
Eff. Rent
0 BR$830$710
1 BR$950$700
2 BR$1,150$1,020
3 BR$1,470$1,340
4 BR$1,580$1,610
5 BR$1,817Not available
6 BR$2,090Not available
7 BR$2,403Not available
8 BR$2,763Not available

Purchase Price Calculator

Maximum purchase price
$89,655

Cost breakdown

+Likely effective rent$1,020
HUD FMR$1,150
Market rentUsed$1,020
Est. payment standard (93%)$1,070
-Principal and interest-$453
Loan amount$71,724
Down payment$17,931
Rate6.50%
Term30 years
-Operating costs-$367
Property taxes-$90
Insurance-$175
Utilities$0
HOA$0
Management-$102
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,663(92.9% ROI)
Projected value
$96,549
Return breakdown
Property appreciation+$6,894
Loan principal paid down+$2,570
Rental cash flow+$7,200
5-year hold
+$28,364(158.2% ROI)
Projected value
$101,437
Return breakdown
Property appreciation+$11,781
Loan principal paid down+$4,582
Rental cash flow+$12,000
10-year hold
+$60,030(334.8% ROI)
Projected value
$114,766
Return breakdown
Property appreciation+$25,111
Loan principal paid down+$10,919
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.17
1 BR
1.36
2 BR
1.13
3 BR
1.10
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 44035 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44035 (Elyria, OH) is $1,150 a month. That is unchanged from FY 2026. Elyria 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 25 ZIP codes in Lorain County, 44035 has the 16th-highest two-bedroom rent (county range $1,000–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44035 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44035
BedroomsFY 2027Change90–110% range
Studio$830−1.2%$747–$913
1BR$9500.0%$855–$1,045
2BR$1,1500.0%$1,035–$1,265
3BR$1,470−0.7%$1,323–$1,617
4BR$1,5800.0%$1,422–$1,738

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44035
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$830$950$1,150$1,470$1,580
FY 2026$840$950$1,150$1,480$1,580
FY 2025$780$880$1,070$1,380$1,480
FY 2024$730$820$1,000$1,290$1,380
FY 2023$660$750$910$1,180$1,250

Two-bedroom rent in nearby Lorain County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44035
44012$1,850+60.9%
44028$1,870+62.6%
44035Current$1,150—
44036$1,170+1.7%
44039$1,310+13.9%
44044$1,280+11.3%
44049$1,140−0.9%
44050$1,270+10.4%
44052$1,130−1.7%
44053$1,060−7.8%
44054$1,310+13.9%
44055$1,110−3.5%

Questions about ZIP 44035 rents

How much will Section 8 pay for a two-bedroom in ZIP 44035?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,150, that basic range is $1,035 to $1,265 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 44035 in?

ZIP 44035 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 44035 for FY 2027?

The two-bedroom FMR was unchanged at $1,150 in FY 2027. Since FY 2023 it has risen 26.4%.

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

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