Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $76,783 | 1.43% | A |
| 3BR | $1,400 | $106,038 | 1.32% | A |
| 4BR | $1,520 | $120,631 | 1.26% | A |
U.S. Census Bureau data (2024)
The Section 8 thesis for real estate investments in ZIP code 15045, specifically Glassport, PA, is based on the significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 15045 in fiscal year 2024 is set at $980, while the Census ACS reports the market rent at $849. This means that the FMR is $131 higher than the market rent, representing a 15.4% premium.
This gap makes the area a yield play for landlords and small-portfolio investors. Voucher tenants, who receive rental assistance through the Section 8 program, can help landlords achieve higher rental incomes relative to the market rate. With 36.4% of the population being renters, there is a substantial demand for affordable housing. The median home value in Glassport, PA is $94,186, indicating that homeownership is relatively accessible, but the median income of $47,803 suggests that many residents still require financial assistance to afford housing.
The FMR being above the market rent means that landlords can charge closer to the FMR rate without significantly deterring potential tenants. This is particularly beneficial given the economic profile of Glassport, where a large portion of the population may rely on government subsidies to meet their housing needs. As a result, landlords can expect steady occupancy rates and consistent rental income, which enhances the overall yield on their investment properties.
In summary, the gap between the FMR and the market rent in Glassport, PA, presents an opportunity for landlords to leverage the Section 8 program for better returns. The 15.4% premium over market rent allows for higher income generation, making it a strategic choice for those looking to maximize yields in their real estate portfolios.
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.