Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 15053, located in Joffre, Pennsylvania, is characterized by a modest population of 127 individuals. Notably, there are no reported renters in this area, indicating it is predominantly an owner-occupied community. The median income here stands at $89,931, which suggests a middle-class demographic. However, specific data on the median home value is not available; recent sources indicate a median home value of approximately $170,500.
Moving into the economic analysis of rental properties, the Fair Market Rent (FMR) for ZIP 15053 in fiscal year 2024 is set at $990. This figure represents the government's estimate of the maximum amount a tenant should pay for housing under the Section 8 program. Unfortunately, there is no available data on the actual market rent for this ZIP code.
Given the context, ZIP 15053 appears to be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. With such a small population and no reported renters, the potential for active property management and improvements is limited. Instead, the presence of a defined FMR without corresponding market rent data implies a reliance on government assistance for housing. Thus, landlords or investors interested in this area should focus on maintaining compliance with Section 8 requirements and ensuring the quality of their properties to attract tenants eligible for vouchers.
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.