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 | $970 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,250 | $112,934 | 1.11% | B |
| 3BR | $1,600 | $161,721 | 0.99% | C |
| 4BR | $1,730 | $192,918 | 0.9% | C |
| 5BR | $2,007 | $160,222 | 1.25% | A |
U.S. Census Bureau data (2024)
ZIP code 15120, located in Munhall, PA, falls within the larger Pittsburgh, PA HUD Metro FMR Area. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 15120 is set at $1070. This figure represents the maximum rent that a household receiving Section 8 assistance can be expected to pay.
Comparatively, the market rent for ZIP 15120 is $1,418, which is higher than the FMR but indicates that landlords could potentially charge more than the subsidized rate. The median home value in this ZIP is $143,428, which is lower than many other areas within the Pittsburgh metro, suggesting relatively affordable housing for homeowners.
The renter share in ZIP 15120 stands at 36.8%, which is above the average for the broader Pittsburgh area. This high percentage of renters combined with below-average home values could signal a prime location for landlords participating in the Section 8 program. It suggests that there is a strong demand for rental properties, particularly those that fall under the subsidized rent threshold.
To determine if ZIP 15120 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, consider the following:
Note that the FMR of $1070 is significantly lower than the market rent of $1,418, indicating that landlords may need to adjust their expectations if they wish to participate in the Section 8 program. However, the high renter share suggests a steady stream of tenants willing to pay the subsidized rate, making it a viable option for landlords looking to secure long-term, stable occupancy.
In conclusion, ZIP 15120 presents itself as a strategic location for landlords interested in the Section 8 program due to its high renter share and relatively low home values. While the FMR is lower than the market rent, the demand for rental properties is strong, making it a valuable opportunity for those willing to work within the constraints of the program.
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.