Section 8 Fair Market Rent (FMR) for ZIP 15014 - 2027

Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area

Investment Score for ZIP 15014

Monthly Rent (2BR)

$1,050

Median Price (2BR)

$109,239

1% Rule

0.96%

Annual Yield

11.53%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$870
2 Bedrooms	$1,050
3 Bedrooms	$1,340
4 Bedrooms	$1,460
5 Bedrooms	$1,694
6 Bedrooms	$1,897
7 Bedrooms	$2,049
8 Bedrooms	$2,151

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,050	$109,239	0.96%	C
3BR	$1,340	$130,889	1.02%	B
4BR	$1,460	$149,930	0.97%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,095

Median Household Income

$53,551

Housing Units

1,629

Renter Percentage

29.8%

Occupancy Rate

89.7%

Renter Occupied

435

If a landlord is considering buying a property in ZIP code 15014 (Brackenridge, PA) for Section 8 purposes, they should follow a decision tree based on specific financial metrics and market conditions.

Step 1: Debt Service Coverage Ratio (DSCR)

The Fair Market Rent (FMR) for ZIP 15014 in fiscal year 2024 is set at $960 per month. To determine if this amount clears the debt service on a property valued at $110,636, calculate the DSCR. A DSCR greater than 1 indicates that the rental income covers the mortgage payments. For a typical mortgage rate and term, the monthly payment on a $110,636 property would be approximately $500-$600, depending on interest rates and down payment. Given an FMR of $960, the answer is Yes. The FMR comfortably exceeds the expected monthly debt service, ensuring that the landlord can cover their mortgage payments with the Section 8 subsidy.

Step 2: Market Rent Comparison

The Census American Community Survey (ACS) reports the average market rent in ZIP 15014 at $867 per month. This figure is below the FMR of $960. Therefore, landlords who participate in the Section 8 program will receive higher rental income compared to the market rate. The answer here is also Yes. Landlords can expect to earn more than the local market rent when leasing to tenants covered under Section 8.

Step 3: Demand Analysis

In ZIP 15014, 29.8% of residents are renters. While this percentage is relatively low, it does not necessarily indicate a lack of demand. However, the Days on Market (DOM) data is marked as 'N/A', suggesting that there might be insufficient data to gauge how quickly rental properties are leased. To make a decision:

If you conclude that the 29.8% rental rate combined with a reasonable assumption about DOM provides sufficient demand, then the answer is Yes. There is enough demand to ensure your property will likely be occupied.
If you believe that the rental rate is too low to support a steady occupancy, then the answer is No.
If you're uncertain about the demand due to the lack of DOM data, the answer is It Depends. Consider other factors such as vacancy rates and the overall housing market in Brackenridge, PA.

In summary, ZIP 15014 offers favorable conditions for landlords interested in Section 8 properties based on the FMR covering debt service and being above market rent. The key uncertainty lies in the demand analysis, where the rental rate is low but not necessarily prohibitive. Landlords must weigh these factors carefully before making an investment decision.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.