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 | $1,290 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,670 | $189,969 | 0.88% | C |
| 3BR | $2,130 | $274,158 | 0.78% | D |
| 4BR | $2,310 | $394,508 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 15129, located in South Park, PA, stands out within Allegheny County due to its unique demographic and economic characteristics. With a population of 10,789 residents, it has a rental rate of 23.0%, indicating that a significant portion of the community owns their homes. The median income in this area is $99,519, reflecting a middle-class neighborhood. Additionally, the median home value of $275,634 suggests a stable housing market where property values are relatively high compared to other areas in the county.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 15129 is set at $1,420 for fiscal year 2024. This figure is slightly below the market rent, which is estimated at $1,450 according to the ZORI index. Landlords and small-portfolio investors should note that while the FMR is lower, the median income supports the ability of tenants to cover the difference between the voucher amount and the actual market rent. This balance ensures that landlords can still receive competitive rates when leasing to Section 8 participants.
The data signature for ZIP 15129 reads as stable. The median income is sufficient to support both homeownership and rental activities, and the median home value indicates a mature market where properties have appreciated over time. The slight discrepancy between the FMR and market rent does not suggest a transitional phase but rather a minor adjustment that landlords can manage with proper tenant selection and lease terms. Overall, the economic conditions in South Park, PA, present a favorable environment for landlords and small-portfolio investors looking to engage with the Section 8 program.
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.