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 | $900 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,160 | $84,228 | 1.38% | A |
| 3BR | $1,480 | $132,381 | 1.12% | B |
| 4BR | $1,610 | $138,391 | 1.16% | B |
U.S. Census Bureau data (2024)
ZIP code 15062 represents the town of Monessen, Pennsylvania, a small community with a total population of 6,780. Approximately 27.0% of the residents are renters, indicating a modest demand for rental properties. The median household income in Monessen stands at $52,889, which is relatively low compared to national averages. This suggests that many residents may rely on financial assistance programs such as Section 8 vouchers to afford housing. The median home value in the area is $80,724, reflecting an affordable real estate market.
The economic landscape for landlords and small-portfolio investors in Monessen is shaped by the Federal Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR for ZIP 15062 is set at $1,030. In contrast, the Census American Community Survey (ACS) reports the average market rent at $733. This gap between the FMR and the market rent presents a significant opportunity for landlords who can leverage the higher reimbursement rates offered by the Section 8 program to cover their costs and generate profit.
The disparity in rent figures makes ZIP 15062 particularly attractive for both hands-off voucher operators and hands-on value-add buyers. Hands-off operators can benefit from the guaranteed income stream provided by the Section 8 program, with the potential to earn above-market rents without the need for extensive property management. Meanwhile, value-add buyers can improve the quality of existing properties and charge closer to the FMR rate, thereby maximizing their returns while still serving the needs of lower-income tenants.
In conclusion, Monessen's demographics and the favorable rent economics make it a viable investment destination for those interested in Section 8 properties. Whether you seek a passive income strategy or an active approach to property improvement, the financial incentives are clear. With a median income of $52,889 and a median home value of $80,724, the town offers an environment where Section 8 vouchers can significantly impact the affordability of housing, aligning well with the needs of the local population.
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.