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Summit County/Akron/44328

44328

ZIPFMR
Summit County, OH
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$886$730
1 BR$952$880
2 BR$1,231$1,040
3 BR$1,474$1,220
4 BR$1,618$1,420
5 BR$1,861Not available
6 BR$2,140Not available
7 BR$2,461Not available
8 BR$2,830Not available

Purchase Price Calculator

Maximum purchase price
$92,627

Cost breakdown

+Likely effective rent$1,040
HUD FMR$1,231
Market rentUsed$1,040
Est. payment standard (90%)$1,110
-Principal and interest-$468
Loan amount$74,102
Down payment$18,525
Rate6.50%
Term30 years
-Operating costs-$372
Property taxes-$93
Insurance-$175
Utilities$0
HOA$0
Management-$104
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,977(91.6% ROI)
Projected value
$99,749
Return breakdown
Property appreciation+$7,122
Loan principal paid down+$2,655
Rental cash flow+$7,200
5-year hold
+$28,906(156.0% ROI)
Projected value
$104,799
Return breakdown
Property appreciation+$12,172
Loan principal paid down+$4,734
Rental cash flow+$12,000
10-year hold
+$61,225(330.5% ROI)
Projected value
$118,570
Return breakdown
Property appreciation+$25,943
Loan principal paid down+$11,281
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.21
1 BR
1.08
2 BR
1.18
3 BR
1.21
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 44328 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 44328 (Akron, OH) is $1,231 a month. That is down 2.9% from $1,268 in FY 2026. Akron is in the Akron, OH MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44328 is 17% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44328
BedroomsFY 2027Change90–110% range
Studio$886−2.0%$797–$975
1BR$952−3.4%$857–$1,047
2BR$1,231−2.9%$1,108–$1,354
3BR$1,474−4.7%$1,327–$1,621
4BR$1,618−3.7%$1,456–$1,780

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44328
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$886$952$1,231$1,474$1,618
FY 2026$904$985$1,268$1,547$1,681
FY 2025$799$880$1,131$1,398$1,504
FY 2024$728$816$1,039$1,301$1,389
FY 2023$712$809$1,027$1,297$1,380

Questions about ZIP 44328 rents

How much will Section 8 pay for a two-bedroom in ZIP 44328?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,231, that basic range is $1,108 to $1,354 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 44328 in?

ZIP 44328 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 44328 for FY 2027?

The two-bedroom FMR fell 2.9%, from $1,268 in FY 2026 to $1,231 in FY 2027. Since FY 2023 it has risen 19.9%.

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 Fair Market Rents. 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 rentAkron, OH fair market rentOH statewide rentsWhat is SAFMR?Data sources