Section 8 Fair Market Rent (FMR) for ZIP 15127 - 2027
Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,150 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
The ZIP code 15127, located in Pittsburgh, PA, presents several key considerations for landlords and small-portfolio investors. Let's address the primary concerns that might arise when evaluating this area.
- Will FMR $1230 (zip FY 2024) cover the mortgage on a N/A home?: The Fair Market Rent (FMR) for ZIP 15127 in fiscal year 2024 is set at $1230. However, without the median home value data, it's impossible to determine if this amount will sufficiently cover the mortgage payments. To make an informed decision, one must know the typical mortgage costs for properties in this area.
- Is there enough renter demand at N/A%?: According to recent listings on Trulia, there are 4,339 rental properties available in ZIP 15127 and surrounding areas. This suggests a robust rental market, but the exact vacancy rate percentage is needed to gauge the competition and demand accurately. High demand can help maintain occupancy rates and rental income stability.
- Will vouchers keep pace with N/A market rents?: The Housing Choice Voucher (HCV) program, managed by HUD, provides assistance to low-income families. While HUD offers a data dashboard to track trends, the specific usage and trends for ZIP 15127 are not directly available. Investors should monitor local trends to ensure that voucher amounts align with market rents. If voucher payments fall behind market rates, it could impact the ability to attract and retain tenants who rely on such assistance.
In summary, while the Fair Market Rent provides a benchmark for rental pricing, additional data points such as median home values and precise vacancy rates are necessary to fully assess the investment potential of ZIP 15127. The presence of a substantial number of rental properties indicates a competitive market, which landlords must navigate carefully. Monitoring the effectiveness of housing vouchers relative to market rents is also crucial for maintaining a steady stream of income from government-assisted tenants.
Data Sources: FMR data from HUD (2027).
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.