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Cuyahoga County/Cleveland/44135

44135

ZIPSAFMR
Cuyahoga County, OH
Zillow

ZIP Investment Score

172High yield potential

095130300
BRFMR
Eff. Rent
0 BR$930$1,020
1 BR$1,060$1,070
2 BR$1,280$1,330
3 BR$1,640$1,660
4 BR$1,760$1,730
5 BR$2,024Not available
6 BR$2,328Not available
7 BR$2,677Not available
8 BR$3,078Not available

Purchase Price Calculator

Maximum purchase price
$135,721

Cost breakdown

+Likely effective rent$1,330
HUD FMR$1,280
Market rent$1,350
Est. payment standard (104%)Used$1,330
-Principal and interest-$686
Loan amount$108,577
Down payment$27,144
Rate6.50%
Term30 years
-Operating costs-$444
Property taxes-$136
Insurance-$175
Utilities$0
HOA$0
Management-$133
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,526(79.3% ROI)
Projected value
$146,157
Return breakdown
Property appreciation+$10,436
Loan principal paid down+$3,890
Rental cash flow+$7,200
5-year hold
+$36,772(135.5% ROI)
Projected value
$153,556
Return breakdown
Property appreciation+$17,835
Loan principal paid down+$6,937
Rental cash flow+$12,000
10-year hold
+$78,543(289.4% ROI)
Projected value
$173,734
Return breakdown
Property appreciation+$38,013
Loan principal paid down+$16,530
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
0.98
2 BR
0.95
3 BR
0.98
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 44135 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44135 (Cleveland, OH) is $1,280 a month. That is unchanged from 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, 44135 is tied for the 32nd-highest two-bedroom rent (county range $1,000–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44135 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44135
BedroomsFY 2027Change90–110% range
Studio$9300.0%$837–$1,023
1BR$1,0600.0%$954–$1,166
2BR$1,2800.0%$1,152–$1,408
3BR$1,640−0.6%$1,476–$1,804
4BR$1,7600.0%$1,584–$1,936

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44135
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$930$1,060$1,280$1,640$1,760
FY 2026$930$1,060$1,280$1,650$1,760
FY 2025$870$990$1,200$1,540$1,660
FY 2024$790$890$1,080$1,400$1,490
FY 2023$710$810$980$1,270$1,340

Two-bedroom rent in nearby Cuyahoga County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44135
44129$1,240−3.1%
44130$1,380+7.8%
44131$1,740+35.9%
44132$1,2800.0%
44133$1,310+2.3%
44134$1,370+7.0%
44135Current$1,280—
44136$1,490+16.4%
44137$1,600+25.0%
44138$1,490+16.4%
44139$1,840+43.8%
44140$1,750+36.7%

Questions about ZIP 44135 rents

How much will Section 8 pay for a two-bedroom in ZIP 44135?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,280, that basic range is $1,152 to $1,408 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 44135 in?

ZIP 44135 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 44135 for FY 2027?

The two-bedroom FMR was unchanged at $1,280 in FY 2027. Since FY 2023 it has risen 30.6%.

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