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 | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $60,733 | 1.78% | A+ |
| 3BR | $1,380 | $82,454 | 1.67% | A+ |
| 4BR | $1,500 | $93,550 | 1.6% | A+ |
| 5BR | $1,740 | $101,246 | 1.72% | A+ |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 15132, McKeesport, PA, reveals a market that is currently stable but with limited pricing power for the near future. The median home value stands at $73,704, indicating a historically low price point for the area. This figure is critical for understanding the local market's baseline valuation.
A key indicator of the market's direction is the fact that only 0.2% of listings have been reduced. This suggests that sellers are holding firm on their asking prices, which could imply a belief in the market's stability or an expectation of slight improvements. However, the median days on market (DOM) being listed as N/A indicates either a very rapid turnover or an insufficient number of sales to establish a reliable average. In either case, it signals a market where homes are moving quickly, if they move at all.
On the rental side, the Fair Market Rent (FMR) for ZIP 15132 is set at $1,000 for fiscal year 2024, while the actual market rent, measured by Zillow's ZORI index, is $1,143. This gap between FMR and market rent suggests that there is a slight premium in the rental market, which could be indicative of demand exceeding supply. Landlords and small-portfolio investors should note this dynamic as it provides some cushion against potential downturns in the housing market.
For long-term investors, the setup in ZIP 15132 points to a cautious approach regarding appreciation. Given the low median home value and the minimal reduction in listing prices, appreciation is likely to remain modest. The rental market, however, offers a more compelling argument for investment. The consistent premium over FMR suggests that rental income can provide a steady return, even if property values do not rise significantly.
In summary, the data implies a market where pricing power is constrained, and appreciation is unlikely to be robust. However, the rental market presents opportunities for steady returns, making it a viable strategy for those willing to hold properties for extended periods. Investors should focus on rental yields rather than speculative gains in property value.
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.