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Cuyahoga County/Cleveland/44114

44114

ZIPSAFMR
Cuyahoga County, OH
Zillow

ZIP Investment Score

119Above average

095130300
BRFMR
Eff. Rent
0 BR$1,270$1,400
1 BR$1,440$1,540
2 BR$1,750$1,760
3 BR$2,240$1,810
4 BR$2,410$2,010
5 BR$2,772Not available
6 BR$3,187Not available
7 BR$3,665Not available
8 BR$4,215Not available

Purchase Price Calculator

Maximum purchase price
$199,619

Cost breakdown

+Likely effective rent$1,760
HUD FMR$1,750
Market rent$1,770
Est. payment standard (101%)Used$1,760
-Principal and interest-$1,009
Loan amount$159,695
Down payment$39,924
Rate6.50%
Term30 years
-Operating costs-$551
Property taxes-$200
Insurance-$175
Utilities$0
HOA$0
Management-$176
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,270(70.8% ROI)
Projected value
$214,968
Return breakdown
Property appreciation+$15,349
Loan principal paid down+$5,721
Rental cash flow+$7,200
5-year hold
+$48,434(121.3% ROI)
Projected value
$225,850
Return breakdown
Property appreciation+$26,232
Loan principal paid down+$10,203
Rental cash flow+$12,000
10-year hold
+$104,222(261.1% ROI)
Projected value
$255,529
Return breakdown
Property appreciation+$55,910
Loan principal paid down+$24,312
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
0.90
2 BR
0.99
3 BR
1.24
4 BR
1.20
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 44114 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44114 (Cleveland, OH) is $1,750 a month. That is down 1.7% from $1,780 in FY 2026. Cleveland 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 57 ZIP codes in Cuyahoga County, 44114 is tied for the 8th-highest two-bedroom rent (county range $1,000–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44114 is 67% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44114
BedroomsFY 2027Change90–110% range
Studio$1,270−2.3%$1,143–$1,397
1BR$1,440−2.0%$1,296–$1,584
2BR$1,750−1.7%$1,575–$1,925
3BR$2,240−2.2%$2,016–$2,464
4BR$2,410−1.6%$2,169–$2,651

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44114
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,270$1,440$1,750$2,240$2,410
FY 2026$1,300$1,470$1,780$2,290$2,450
FY 2025$1,210$1,370$1,660$2,130$2,290
FY 2024$1,050$1,190$1,440$1,860$1,980
FY 2023$860$990$1,200$1,560$1,650

Two-bedroom rent in nearby Cuyahoga County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44114
44108$1,170−33.1%
44109$1,080−38.3%
44110$1,100−37.1%
44111$1,180−32.6%
44112$1,070−38.9%
44113$1,910+9.1%
44114Current$1,750—
44115$1,630−6.9%
44116$1,390−20.6%
44117$1,060−39.4%
44118$1,520−13.1%
44119$1,170−33.1%

Questions about ZIP 44114 rents

How much will Section 8 pay for a two-bedroom in ZIP 44114?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,750, that basic range is $1,575 to $1,925 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 44114 in?

ZIP 44114 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 44114 for FY 2027?

The two-bedroom FMR fell 1.7%, from $1,780 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 45.8%.

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