Lorain County/Valley City/44280

44280

ZIPSAFMR

Lorain County, OH

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ZIP Investment Score

85Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,390	$1,530	4.7%
1 BR	$1,570	$1,640	4.6%
2 BR	$1,910	$1,960	4.8%
3 BR	$2,440	$2,300	4.3%
4 BR	$2,630	$2,460	4.7%
5 BR	$3,024	Not available	4.7%
6 BR	$3,478	Not available	4.7%
7 BR	$4,000	Not available	4.7%
8 BR	$4,600	Not available	4.7%

Purchase Price Calculator

Maximum purchase price

$229,339

Cost breakdown

+Likely effective rent$1,960

HUD FMR$1,910

Market rent$1,980

Est. payment standard (102%)Used$1,960

-Principal and interest-$1,160

Loan amount$183,471

Down payment$45,868

Rate6.50%

Term30 years

-Operating costs-$600

Property taxes-$229

Insurance-$175

Utilities$0

HOA$0

Management-$196

=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

+$31,407(68.5% ROI)

Projected value

$246,973

Return breakdown

Property appreciation+$17,634

Loan principal paid down+$6,573

Rental cash flow+$7,200

5-year hold

+$53,859(117.4% ROI)

Projected value

$259,476

Return breakdown

Property appreciation+$30,137

Loan principal paid down+$11,722

Rental cash flow+$12,000

10-year hold

+$116,166(253.3% ROI)

Projected value

$293,573

Return breakdown

Property appreciation+$64,234

Loan principal paid down+$27,931

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.69ratio

FMR$1,390

Market$2,000

vs market-$610

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

0.69

1 BR

0.94ratio

FMR$1,570

Market$1,670

vs market-$100

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

0.94

2 BR

0.96ratio

FMR$1,910

Market$1,980

vs market-$70

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

0.96

3 BR

1.06ratio

FMR$2,440

Market$2,300

vs market+$140

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

1.06

4 BR

1.07ratio

FMR$2,630

Market$2,460

vs market+$170

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

1.07

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 44280 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44280 (Valley City, OH) is $1,910 a month. That is down 0.5% from $1,920 in FY 2026. Valley City 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, 44280 has the highest two-bedroom rent (county range $1,000–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44280 is 82% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44280
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,400	$1,390	−0.7%	$1,251–$1,529
1BR	$1,590	$1,570	−1.3%	$1,413–$1,727
2BR	$1,920	$1,910	−0.5%	$1,719–$2,101
3BR	$2,470	$2,440	−1.2%	$2,196–$2,684
4BR	$2,640	$2,630	−0.4%	$2,367–$2,893

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44280
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,390	$1,570	$1,910	$2,440	$2,630
FY 2026	$1,400	$1,590	$1,920	$2,470	$2,640
FY 2025	$1,320	$1,490	$1,810	$2,330	$2,500
FY 2024	$1,210	$1,370	$1,660	$2,150	$2,290
FY 2023	$1,080	$1,230	$1,500	$1,950	$2,060

Two-bedroom rent in nearby Lorain County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 44280
44050	$1,270	−33.5%
44052	$1,130	−40.8%
44053	$1,060	−44.5%
44054	$1,310	−31.4%
44055	$1,110	−41.9%
44074	$1,140	−40.3%
44089	$1,390	−27.2%
44090	$1,010	−47.1%
44253	$1,260	−34.0%
44256	$1,350	−29.3%
44275	$1,390	−27.2%
44280Current	$1,910	—

Questions about ZIP 44280 rents

How much will Section 8 pay for a two-bedroom in ZIP 44280?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,910, that basic range is $1,719 to $2,101 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 44280 in?

ZIP 44280 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 44280 for FY 2027?

The two-bedroom FMR fell 0.5%, from $1,920 in FY 2026 to $1,910 in FY 2027. Since FY 2023 it has risen 27.3%.

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 Valley City, OH fair market rent OH statewide rents What is SAFMR?Data sources