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Erie County/Wakeman/44889

44889

ZIPSAFMR
Erie County, OH
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$970$970
1 BR$1,000$1,000
2 BR$1,260$1,260
3 BR$1,580$1,580
4 BR$1,860$1,860
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
$125,319

Cost breakdown

+Likely effective rent$1,260
HUD FMRUsed$1,260
Market rentN/A
Est. payment standardN/A
-Principal and interest-$634
Loan amount$100,255
Down payment$25,064
Rate6.50%
Term30 years
-Operating costs-$426
Property taxes-$125
Insurance-$175
Utilities$0
HOA$0
Management-$126
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,428(81.5% ROI)
Projected value
$134,955
Return breakdown
Property appreciation+$9,636
Loan principal paid down+$3,592
Rental cash flow+$7,200
5-year hold
+$34,873(139.1% ROI)
Projected value
$141,787
Return breakdown
Property appreciation+$16,468
Loan principal paid down+$6,405
Rental cash flow+$12,000
10-year hold
+$74,363(296.7% ROI)
Projected value
$160,419
Return breakdown
Property appreciation+$35,100
Loan principal paid down+$15,263
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
--
Tax rate
--
Mortgage rate
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ZIP 44889 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 44889 (Wakeman, OH) is $1,260 a month. That is up 9.6% from $1,150 in FY 2026. Wakeman is in the Erie County, OH HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 15 ZIP codes in Erie County, 44889 has the 4th-highest two-bedroom rent (county range $1,000–$1,390). The median county two-bedroom FMR in Ohio is $1,048, so ZIP 44889 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 44889
BedroomsFY 2027Change90–110% range
Studio$970+11.5%$873–$1,067
1BR$1,000+11.1%$900–$1,100
2BR$1,260+9.6%$1,134–$1,386
3BR$1,580+9.7%$1,422–$1,738
4BR$1,860+7.5%$1,674–$2,046

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 44889
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$970$1,000$1,260$1,580$1,860
FY 2026$870$900$1,150$1,440$1,730
FY 2025$760$830$1,000$1,300$1,520
FY 2024$700$790$960$1,240$1,320
FY 2023$640$730$890$1,160$1,220

Two-bedroom rent in nearby Erie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 44889
44811$1,000−20.6%
44814$1,300+3.2%
44816$1,220−3.2%
44824$1,240−1.6%
44826$1,120−11.1%
44839$1,210−4.0%
44846$1,350+7.1%
44847$1,210−4.0%
44857$1,000−20.6%
44870$1,250−0.8%
44871$1,220−3.2%
44889Current$1,260—

Questions about ZIP 44889 rents

How much will Section 8 pay for a two-bedroom in ZIP 44889?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,260, that basic range is $1,134 to $1,386 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 44889 in?

ZIP 44889 is in the Erie County, 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 44889 for FY 2027?

The two-bedroom FMR rose 9.6%, from $1,150 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 41.6%.

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