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 | $1,000 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $151,889 | 0.85% | C |
| 3BR | $1,650 | $191,108 | 0.86% | C |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP 15049 in Harwick, PA, Allegheny County, reveals a favorable scenario for cashflow. The HUD Fair Market Rent (FMR) for FY 2024 is set at $1050 for this area, while the market rent, according to the Census ACS, is $964. This means that voucher tenants will cashflow positively at the FMR level, providing landlords and small-portfolio investors with a consistent source of revenue.
To further understand the investment potential, we can examine the rent-to-price ratio using the median home value of $165,779. The monthly rent of $964 translates to an annual rental income of $11,568, yielding a rent-to-price ratio of approximately 7%. This indicates that the rental income is a reasonable percentage of the property's value, making it attractive for investors looking to generate passive income through real estate.
The comparison between the HUD FMR and market rent suggests that landlords can expect a steady stream of income without the need for premium units. This is particularly beneficial given the current economic environment where maintaining occupancy rates is crucial. The positive cashflow from voucher tenants at the FMR level ensures that investors can cover their mortgage payments, maintenance costs, and other expenses without relying on additional rent increases.
While there is no specific data available on the median days on market (DOM) or the percentage of price cuts for this ZIP code, these factors typically influence the rent-vs-buy dynamics. However, in this case, the primary focus should be on the robust cashflow potential, which is a strong indicator of the area's financial stability for real estate investments.
The strongest investor angle in ZIP 15049 is the cashflow generated from voucher tenants at the FMR level. This provides a reliable and predictable income stream, making it an attractive option for those seeking stable returns on their real estate investments.
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.