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Geauga County/West Farmington/44491

44491

ZIPSAFMR
Geauga County, OH
Zillow

ZIP Investment Score

59Below average

095130300
BRFMR
Eff. Rent
0 BR$790$790
1 BR$850$850
2 BR$1,060$1,060
3 BR$1,360$1,360
4 BR$1,450$1,450
5 BR$1,667Not available
6 BR$1,918Not available
7 BR$2,205Not available
8 BR$2,536Not available

Purchase Price Calculator

Maximum purchase price
$95,599

Cost breakdown

+Likely effective rent$1,060
HUD FMRUsed$1,060
Market rentN/A
Est. payment standardN/A
-Principal and interest-$483
Loan amount$76,479
Down payment$19,120
Rate6.50%
Term30 years
-Operating costs-$377
Property taxes-$96
Insurance-$175
Utilities$0
HOA$0
Management-$106
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,291(90.4% ROI)
Projected value
$102,950
Return breakdown
Property appreciation+$7,351
Loan principal paid down+$2,740
Rental cash flow+$7,200
5-year hold
+$29,449(154.0% ROI)
Projected value
$108,162
Return breakdown
Property appreciation+$12,563
Loan principal paid down+$4,886
Rental cash flow+$12,000
10-year hold
+$62,419(326.5% ROI)
Projected value
$122,375
Return breakdown
Property appreciation+$26,776
Loan principal paid down+$11,643
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
--
Mortgage rate
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ZIP 44491 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44491 (West Farmington, OH) is $1,060 a month. That is up 2.9% from $1,030 in FY 2026. West Farmington 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 23 ZIP codes in Geauga County, 44491 is tied for the 18th-highest two-bedroom rent (county range $1,010–$1,910). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44491 is 1% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44491
BedroomsFY 2027Change90–110% range
Studio$790+2.6%$711–$869
1BR$850+3.7%$765–$935
2BR$1,060+2.9%$954–$1,166
3BR$1,360+1.5%$1,224–$1,496
4BR$1,450+2.1%$1,305–$1,595

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44491
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$790$850$1,060$1,360$1,450
FY 2026$770$820$1,030$1,340$1,420
FY 2025$730$830$1,000$1,300$1,380
FY 2024$660$740$930$1,180$1,250
FY 2023$630$700$880$1,150$1,220

Two-bedroom rent in nearby Geauga County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44491
44064$1,290+21.7%
44065$1,040−1.9%
44072$1,830+72.6%
44077$1,230+16.0%
44080$1,070+0.9%
44086$1,260+18.9%
44094$1,440+35.8%
44099$1,030−2.8%
44202$1,850+74.5%
44231$1,040−1.9%
44234$1,110+4.7%
44491Current$1,060—

Questions about ZIP 44491 rents

How much will Section 8 pay for a two-bedroom in ZIP 44491?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,060, that basic range is $954 to $1,166 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 44491 in?

ZIP 44491 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 44491 for FY 2027?

The two-bedroom FMR rose 2.9%, from $1,030 in FY 2026 to $1,060 in FY 2027. Since FY 2023 it has risen 20.5%.

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