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 | $980 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,260 | $149,516 | 0.84% | C |
| 3BR | $1,610 | $227,506 | 0.71% | D |
| 4BR | $1,750 | $354,932 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 15061, located in Monaca, Pennsylvania, presents an interesting scenario for both renters and landlords. The median income in this area stands at $73,010, which provides a benchmark for understanding the financial capabilities of local households.
To determine if a household can afford the market rate rent, it's essential to look at the Zillow Observed Rent Index (ZORI), which currently sits at $1,141. This figure represents the average monthly rent for a typical rental unit in the area. For a household earning the median income, the rent-to-income ratio is approximately 18.4%, assuming a 30% threshold for housing costs is reasonable. However, this calculation doesn't account for other living expenses, indicating that the market rate might be challenging for some residents.
Comparatively, the Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1,050. This amount is what the Housing Choice Voucher program, commonly known as Section 8, aims to cover for eligible tenants. The difference between the ZORI and the FMR is $91, which highlights the affordability gap for renters relying on vouchers.
Given that 29.6% of the 12,413 population are renters, there is a notable demand for affordable housing options. Landlords must consider this when setting their rental prices and deciding whether to accept vouchers. The competition among landlords is likely to be high, especially for units priced closer to the FMR, as these would be more attractive to voucher holders and those on the lower end of the income spectrum.
For landlords considering their strategy, accepting vouchers can ensure steady occupancy and a reliable source of income, even if it's slightly below the market rate. On the other hand, focusing on cash-paying tenants might allow for higher rents but could lead to longer vacancies due to the limited number of households capable of affording the ZORI without assistance.
In conclusion, landlords in ZIP 15061 should weigh the benefits of accepting vouchers against the potential for higher rents from cash-paying tenants. Given the affordability gap, voucher acceptance could be a strategic advantage in maintaining a competitive edge and ensuring consistent tenancy.
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.