Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
U.S. Census Bureau data (2024)
150709 The median home value in ZIP 15066, New Brighton, PA, stands at $150,709. 312 The renter share is a substantial 31.2%, indicating a robust demand for rental properties. 1010 For the upcoming fiscal year 2024, the Fair Market Rent (FMR) for Section 8 housing will be set at $1010. 1034 This compares favorably to the local market rent, which is measured at $1,034 (ZORI), suggesting a relatively modest difference between the two. 63836 The median income in the area is $63,836, providing insight into the financial capacity of potential tenants. 02 The price-cut share is a mere 0.2%, reflecting the stability of the local real estate market. 1010 Landlords and small-portfolio investors should note that the $1010 FMR for Section 8 covers a significant portion of the average market rent, making it an attractive option. 1034 While the market rent at $1,034 may seem slightly higher, the strong tenant demand and stable property values suggest that the gap can be managed effectively. 150709 With the median home value at $150,709, the investment risk in acquiring a property is balanced against the likelihood of securing a steady stream of rental income through Section 8. 63836 Given the median income of $63,836, it's reasonable to expect that many residents would qualify for the Section 8 program, thereby ensuring a consistent pool of qualified tenants. 1010 The $1010 FMR for Section 8 in ZIP 15066 provides a reliable basis for calculating rental yields and determining profitability. 1034 Although the market rent is $1,034, the close alignment with the FMR suggests that the premium for non-Section 8 rentals is minimal, making the program particularly appealing. 150709 In conclusion, the median home value, combined with the high renter share and stable market conditions, supports the viability of Section 8 investments in New Brighton. 1010 The $1010 FMR represents a solid foundation for landlords seeking predictable and government-backed rental income.
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.