Medina County/Chippewa Lake/44215

44215

ZIPSAFMR

Medina County, OH

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ZIP Investment Score

139High yield potential

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$960	$1,060	3.3%
1 BR	$1,100	$1,210	3.9%
2 BR	$1,330	$1,460	3.8%
3 BR	$1,700	$1,860	3.3%
4 BR	$1,830	$1,930	3.7%
5 BR	$2,105	Not available	3.7%
6 BR	$2,420	Not available	3.7%
7 BR	$2,783	Not available	3.7%
8 BR	$3,201	Not available	3.7%

Purchase Price Calculator

Maximum purchase price

$155,039

Cost breakdown

+Likely effective rent$1,460

HUD FMR$1,330

Market rent$1,680

Est. payment standard (110%)Used$1,460

-Principal and interest-$784

Loan amount$124,031

Down payment$31,008

Rate6.50%

Term30 years

-Operating costs-$476

Property taxes-$155

Insurance-$175

Utilities$0

HOA$0

Management-$146

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$23,565(76.0% ROI)

Projected value

$166,960

Return breakdown

Property appreciation+$11,921

Loan principal paid down+$4,444

Rental cash flow+$7,200

5-year hold

+$40,298(130.0% ROI)

Projected value

$175,412

Return breakdown

Property appreciation+$20,373

Loan principal paid down+$7,924

Rental cash flow+$12,000

10-year hold

+$86,306(278.3% ROI)

Projected value

$198,463

Return breakdown

Property appreciation+$43,424

Loan principal paid down+$18,882

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.64ratio

FMR$960

Market$1,500

vs market-$540

FMR is below market; voucher rent may lag private rents.

0.64

1 BR

0.66ratio

FMR$1,100

Market$1,660

vs market-$560

FMR is below market; voucher rent may lag private rents.

0.66

2 BR

0.79ratio

FMR$1,330

Market$1,680

vs market-$350

FMR is below market; voucher rent may lag private rents.

0.79

3 BR

0.87ratio

FMR$1,700

Market$1,950

vs market-$250

FMR is below market; voucher rent may lag private rents.

0.87

4 BR

0.92ratio

FMR$1,830

Market$1,980

vs market-$150

FMR is near market; voucher and private rents are aligned.

0.92

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 44215 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44215 (Chippewa Lake, OH) is $1,330 a month. That is down 1.5% from $1,350 in FY 2026. Chippewa Lake 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 30 ZIP codes in Medina County, 44215 has the 13th-highest two-bedroom rent (county range $1,000–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44215 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44215
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$990	$960	−3.0%	$864–$1,056
1BR	$1,120	$1,100	−1.8%	$990–$1,210
2BR	$1,350	$1,330	−1.5%	$1,197–$1,463
3BR	$1,740	$1,700	−2.3%	$1,530–$1,870
4BR	$1,860	$1,830	−1.6%	$1,647–$2,013

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44215
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$960	$1,100	$1,330	$1,700	$1,830
FY 2026	$990	$1,120	$1,350	$1,740	$1,860
FY 2025	$920	$1,040	$1,260	$1,620	$1,740
FY 2024	$870	$980	$1,190	$1,540	$1,640
FY 2023	$770	$880	$1,070	$1,390	$1,470

Two-bedroom rent in nearby Medina County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 44215
44203	$1,090	−18.0%
44212	$1,450	+9.0%
44214	$1,130	−15.0%
44215Current	$1,330	—
44217	$1,110	−16.5%
44230	$1,030	−22.6%
44233	$1,170	−12.0%
44235	$1,150	−13.5%
44251	$1,730	+30.1%
44253	$1,260	−5.3%
44254	$1,080	−18.8%
44256	$1,350	+1.5%

Questions about ZIP 44215 rents

How much will Section 8 pay for a two-bedroom in ZIP 44215?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,330, that basic range is $1,197 to $1,463 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 44215 in?

ZIP 44215 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 44215 for FY 2027?

The two-bedroom FMR fell 1.5%, from $1,350 in FY 2026 to $1,330 in FY 2027. Since FY 2023 it has risen 24.3%.

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 rent Chippewa Lake, OH fair market rent OH statewide rents What is SAFMR?Data sources