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Lorain County/Medina/44256

44256

ZIPSAFMR
Lorain County, OH
Zillow

ZIP Investment Score

90Below average

095130300
BRFMR
Eff. Rent
0 BR$980$1,020
1 BR$1,110$1,120
2 BR$1,350$1,490
3 BR$1,730$1,900
4 BR$1,860$2,050
5 BR$2,139Not available
6 BR$2,460Not available
7 BR$2,829Not available
8 BR$3,253Not available

Purchase Price Calculator

Maximum purchase price
$159,497

Cost breakdown

+Likely effective rent$1,490
HUD FMR$1,350
Market rent$1,670
Est. payment standard (110%)Used$1,490
-Principal and interest-$807
Loan amount$127,598
Down payment$31,899
Rate6.50%
Term30 years
-Operating costs-$483
Property taxes-$159
Insurance-$175
Utilities$0
HOA$0
Management-$149
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$24,035(75.3% ROI)
Projected value
$171,761
Return breakdown
Property appreciation+$12,264
Loan principal paid down+$4,572
Rental cash flow+$7,200
5-year hold
+$41,111(128.9% ROI)
Projected value
$180,456
Return breakdown
Property appreciation+$20,959
Loan principal paid down+$8,152
Rental cash flow+$12,000
10-year hold
+$88,098(276.2% ROI)
Projected value
$204,170
Return breakdown
Property appreciation+$44,673
Loan principal paid down+$19,425
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
0.99
2 BR
0.81
3 BR
0.86
4 BR
0.82
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 44256 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44256 (Medina, OH) is $1,350 a month. That is down 4.9% from $1,420 in FY 2026. Medina 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, 44256 has the 7th-highest two-bedroom rent (county range $1,000–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44256 is 29% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44256
BedroomsFY 2027Change90–110% range
Studio$980−5.8%$882–$1,078
1BR$1,110−5.9%$999–$1,221
2BR$1,350−4.9%$1,215–$1,485
3BR$1,730−5.5%$1,557–$1,903
4BR$1,860−4.6%$1,674–$2,046

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44256
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$980$1,110$1,350$1,730$1,860
FY 2026$1,040$1,180$1,420$1,830$1,950
FY 2025$980$1,110$1,350$1,740$1,860
FY 2024$930$1,050$1,270$1,640$1,750
FY 2023$810$930$1,130$1,470$1,550

Two-bedroom rent in nearby Lorain County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44256
44050$1,270−5.9%
44052$1,130−16.3%
44053$1,060−21.5%
44054$1,310−3.0%
44055$1,110−17.8%
44074$1,140−15.6%
44089$1,390+3.0%
44090$1,010−25.2%
44253$1,260−6.7%
44256Current$1,350—
44275$1,390+3.0%
44280$1,910+41.5%

Questions about ZIP 44256 rents

How much will Section 8 pay for a two-bedroom in ZIP 44256?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,350, that basic range is $1,215 to $1,485 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 44256 in?

ZIP 44256 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 44256 for FY 2027?

The two-bedroom FMR fell 4.9%, from $1,420 in FY 2026 to $1,350 in FY 2027. Since FY 2023 it has risen 19.5%.

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