Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
The classification of ZIP code 15004 hinges significantly on the available data points, particularly the Fair Market Rent (FMR) and the percentage of renters. With an FMR of $1030 for fiscal year 2024, this area stands out in terms of yield potential. However, the lack of comparative market rental rates and home values makes a precise yield comparison challenging. For now, we can assert that the FMR provides a baseline for rental income expectations.
On the stability axis, the 16.4% renter occupancy rate indicates a less dynamic market compared to areas with higher percentages of renters. Typically, higher renter percentages suggest greater market volatility, as tenants often move more frequently than homeowners. The absence of data regarding days on market (DOM) and median household income prevents a comprehensive assessment of financial stability. Nonetheless, the lower renter percentage could imply a more stable tenant base, assuming these tenants have long-term leases.
To determine whether ZIP 15004 is a high-yield/low-stability flip-style market or a steady-cashflow zone, additional metrics are necessary. The current data supports a scenario where the area might offer moderate cash flow without the high-risk profile associated with flipping properties. The steady income derived from the FMR suggests a reliable cash flow, but the low renter percentage hints at a market that leans towards stability over high yield.
In conclusion, ZIP 15004 appears to be positioned more towards a steady-cashflow zone rather than a high-yield/low-stability market. This classification is driven primarily by the FMR of $1030, which sets a clear expectation for rental income, and the 16.4% renter occupancy rate, which suggests a relatively stable tenant population. To make a more definitive call, further investigation into local market trends, DOM, and median income would be beneficial.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.