ZIP 44120 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 44120 in the Cleveland, OH FMR area.

$880Efficiency
$1,0001 bedroom
$1,2102 bedrooms
$1,5503 bedrooms
$1,6704 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$880$792$968$924
1 bedroom$1,000$900$1,100$1,050
2 bedrooms$1,210$1,089$1,331$1,274
3 bedrooms$1,550$1,395$1,705$1,628
4 bedrooms$1,670$1,503$1,837$1,756

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 44120

$82,752average adjusted gross income per tax return (2022)
$54,916average salaries and wages per return
14,130tax returns filed
18%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00037.5%
$25,000 to $50,00027.7%
$50,000 to $75,00012.0%
$75,000 to $100,0005.6%
$100,000 to $200,0009.3%
$200,000 or more7.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 26.8% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 44120?

HUD's FY2027 Small Area FMRs for ZIP 44120 (Cleveland, OH) are $880 efficiency, $1,000 one bedroom, $1,210 two bedrooms, $1,550 three and $1,670 four bedrooms.

What payment standard can a housing authority set in ZIP 44120?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $1,089 to $1,331.

How affordable is rent in ZIP 44120?

Tax returns filed from ZIP 44120 reported an average adjusted gross income of $82,752 (2022). A two-bedroom unit at the Small Area FMR costs $14,520 a year, or 18% of that income.