Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 15028 in fiscal year 2024 is set at $1050. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount that a landlord can charge for a Section 8 rental unit. It's important to note that this is not the actual rent that tenants will pay; rather, it's the ceiling for the portion of the rent covered by the government.
To put this into perspective, let's consider the local rental market. While specific local average rents are not available, we can use the FMR as a benchmark to gauge the competitiveness of your potential Section 8 rental property. The FMR serves as a guideline to ensure that rents are reasonable and reflective of the area's housing market conditions.
The 14.3% renter share indicates the percentage of households in ZIP 15028 that are renters. This statistic suggests there is a significant demand for rental properties in the area. Given the limited availability of precise local rent data, the FMR becomes even more critical as it helps you understand the rental landscape and the likely tenant pool.
When acquiring a property for a Section 8 rental, the lack of specific acquisition cost data makes it challenging to provide an exact figure. However, you should focus on finding properties that offer good value and can be maintained within the parameters set by the FMR. Remember, the government pays a portion of the rent based on the FMR, so ensuring your property's value aligns with this standard is crucial for profitability.
Before committing to a Section 8 rental property, it's essential to verify that the property meets all the required quality standards set by HUD. These include basic safety, health, and structural requirements. Ensuring compliance with these standards upfront will save you time and money in the long run and help you avoid any issues that could arise from not meeting the necessary criteria.
In summary, the $1050 FMR for ZIP 15028 provides a clear payment standard for Section 8 rentals. With 14.3% of households renting, there is a solid demand for affordable housing. Focus on acquiring a property that fits within this framework and meets all HUD requirements to ensure a successful investment.
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.