Section 8 Fair Market Rent (FMR) for ZIP 15046 - 2027

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

Investment Score for ZIP 15046

Monthly Rent (2BR)

$1,430

Median Price (2BR)

$161,772

1% Rule

0.88%

Annual Yield

10.61%

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	$1,110
1 Bedroom	$1,180
2 Bedrooms	$1,430
3 Bedrooms	$1,820
4 Bedrooms	$1,980
5 Bedrooms	$2,297
6 Bedrooms	$2,573
7 Bedrooms	$2,779
8 Bedrooms	$2,918

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,430	$161,772	0.88%	C
3BR	$1,820	$230,401	0.79%	D
4BR	$1,980	$372,088	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,141

Median Household Income

$81,992

Housing Units

1,144

Renter Percentage

12.4%

Occupancy Rate

85.2%

Renter Occupied

121

The ZIP code 15046, located in Crescent, Pennsylvania, represents a modest-sized community within the larger Pittsburgh metropolitan area. Known for its quiet residential streets and proximity to urban amenities, Crescent offers a balanced environment that attracts both homeowners and renters. This analysis will delve into key metrics that define the rental market in this area, providing insights for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 15046 in fiscal year 2024 is set at $1,160. This figure serves as a benchmark for rental pricing, indicating the maximum amount HUD will pay for housing assistance in the area.
The market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $1,215. This slightly higher rate reflects the actual rents being charged in the area, giving investors a clearer picture of the local rental market dynamics.
The median home value in ZIP 15046 is $225,918. This indicates a relatively affordable housing market compared to other parts of the Pittsburgh region, which could be attractive for first-time homebuyers and thus impact the rental market.
Renters make up 12.4% of the population in Crescent, suggesting a smaller but still significant demand for rental properties. This percentage is lower than the national average, implying that homeownership is more prevalent in the area.
The median household income in the ZIP code is $81,992. This income level provides a context for the economic stability of the residents and their ability to afford rental housing at the prevailing rates.

Synthesizing these points, investors can see that while the rental market in Crescent, PA is not as robust as areas with higher renter shares, it does offer steady returns based on the FMR and market rent figures. The lower median home value suggests potential for property appreciation over time, and the median income supports a stable tenant base capable of paying consistent rents. However, the limited number of days on market (DOM) data means there's less insight into how quickly properties are rented out, which could be crucial for cash flow planning. Overall, ZIP 15046 presents a moderate investment opportunity with solid fundamentals, suitable for those looking for a balanced approach to real estate investing.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.