Section 8 Fair Market Rent (FMR) for ZIP 15116 - 2027

Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area

Investment Score for ZIP 15116

Monthly Rent (2BR)

$1,360

Median Price (2BR)

$233,343

1% Rule

0.58%

Annual Yield

6.99%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,050
1 Bedroom	$1,120
2 Bedrooms	$1,360
3 Bedrooms	$1,740
4 Bedrooms	$1,880
5 Bedrooms	$2,181
6 Bedrooms	$2,443
7 Bedrooms	$2,638
8 Bedrooms	$2,770

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,360	$233,343	0.58%	F
3BR	$1,740	$298,491	0.58%	F
4BR	$1,880	$398,462	0.47%	F
5BR	$2,181	$490,289	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

14,461

Median Household Income

$94,352

Housing Units

6,197

Renter Percentage

13.6%

Occupancy Rate

96.3%

Renter Occupied

809

To determine if a landlord should invest in ZIP 15116 (Glenshaw, PA) for Section 8 properties, follow these steps:

Step 1: Debt Service Coverage Ratio (DSCR)

The Fair Market Rent (FMR) for ZIP 15116 in fiscal year 2024 is $1230. For a property valued at $300,796, calculate if this FMR can cover the debt service. The debt service includes mortgage payments, property taxes, insurance, and other expenses. If the total monthly debt service is less than $1230, then the DSCR is positive and the answer is Yes. Otherwise, it's No.

Step 2: Market Rent Comparison

The Census ACS reports that the average market rent in ZIP 15116 is $1,107. Compare this figure to the FMR of $1230.

If market rent is below the FMR, the property is more attractive for Section 8 tenants. This means the answer is Yes.
If market rent equals the FMR, the property is equally attractive for both market and Section 8 tenants. The answer is It Depends on your preference for tenant type.
If market rent exceeds the FMR, market tenants are more likely to be interested. The answer is No.

Step 3: Tenant Demand Analysis

In ZIP 15116, 13.6% of the population are renters. The Days on Market (DOM) for rental properties is listed as N/A, which could mean there is either insufficient data or that rentals are typically occupied quickly. Given the percentage of renters, it suggests a steady demand. However, without specific DOM data, it's hard to quantify how quickly units are filled.

If the DOM is short, indicating quick occupancy, combined with the 13.6% rental rate, there is sufficient demand. The answer is Yes.
If DOM data were available and showed long periods before units are rented, even with the 13.6% rental rate, the answer would be No.
With DOM data missing, the answer is It Depends. Landlords will need to consider other factors such as the local unemployment rate, economic stability, and competition from non-Section 8 properties.

Based on the provided data, ZIP 15116 presents an opportunity for landlords interested in Section 8 properties, especially if the market rent is below the FMR and the property's debt service is covered by the FMR. However, the lack of DOM data introduces uncertainty into the demand analysis, necessitating further investigation into local rental dynamics.

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.