Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 15082 reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for ZIP 15082 in fiscal year 2024 is set at $1,130. However, recent data from Zillow indicates that the average market rent for all property types in this ZIP code is $735. This represents a difference of $395, or approximately 54%.
Given that the FMR exceeds the market rent, landlords and small-portfolio investors can leverage this situation to increase their yields. Voucher tenants, who receive assistance through the Section 8 program, can pay up to the FMR of $1,130, which is higher than the typical market rate. This makes the ZIP code attractive for landlords looking to maximize their returns.
The median home value in ZIP 15082 is $189,597, and the median income is $113,750. Despite these figures, only 0.0% of residents are renters, indicating a predominantly owner-occupied area. The low renter population suggests that rental properties are scarce, making the potential for higher yields even more compelling for those who can secure rental units.
Investors should note that while the FMR provides a higher payment threshold, the scarcity of rental properties might affect occupancy rates. Nevertheless, the gap between FMR and market rent presents a clear opportunity to generate above-average returns in this ZIP code.
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.