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Summit County/Cuyahoga Falls/44223

44223

ZIPSAFMR
Summit County, OH
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$920$930
1 BR$990$1,040
2 BR$1,280$1,330
3 BR$1,530$1,680
4 BR$1,680$1,850
5 BR$1,932Not available
6 BR$2,222Not available
7 BR$2,555Not available
8 BR$2,938Not available

Purchase Price Calculator

Maximum purchase price
$135,721

Cost breakdown

+Likely effective rent$1,330
HUD FMR$1,280
Market rent$1,360
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
0.99
1 BR
0.93
2 BR
0.94
3 BR
0.84
4 BR
0.66
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 44223 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44223 (Cuyahoga Falls, OH) is $1,280 a month. That is down 2.3% from $1,310 in FY 2026. Cuyahoga Falls is in the Akron, OH MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 49 ZIP codes in Summit County, 44223 has the 18th-highest two-bedroom rent (county range $1,000–$1,850). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44223 is 22% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44223
BedroomsFY 2027Change90–110% range
Studio$920−1.1%$828–$1,012
1BR$990−2.9%$891–$1,089
2BR$1,280−2.3%$1,152–$1,408
3BR$1,530−4.4%$1,377–$1,683
4BR$1,680−3.4%$1,512–$1,848

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44223
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$990$1,280$1,530$1,680
FY 2026$930$1,020$1,310$1,600$1,740
FY 2025$800$880$1,130$1,400$1,500
FY 2024$710$790$1,010$1,260$1,350
FY 2023$690$790$1,000$1,260$1,340

Two-bedroom rent in nearby Summit County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44223
44202$1,850+44.5%
44203$1,090−14.8%
44210$1,220−4.7%
44216$1,000−21.9%
44221$1,360+6.3%
44222$1,220−4.7%
44223Current$1,280—
44224$1,470+14.8%
44230$1,030−19.5%
44232$1,220−4.7%
44236$1,850+44.5%
44240$1,260−1.6%

Questions about ZIP 44223 rents

How much will Section 8 pay for a two-bedroom in ZIP 44223?

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 44223 in?

ZIP 44223 is in the Akron, OH MSA. 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 44223 for FY 2027?

The two-bedroom FMR fell 2.3%, from $1,310 in FY 2026 to $1,280 in FY 2027. Since FY 2023 it has risen 28.0%.

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