Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| 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 analysis of ZIP code 15134 in Pittsburgh, Pennsylvania, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area as of fiscal year 2024 is set at $1230. However, the market rent data is currently unavailable, which makes it difficult to directly compare the FMR against actual market rates. Without this comparison, it's challenging to determine if the rent set at the FMR level will be competitive or too high.
Regarding the affordability of acquisitions, the median home value and other critical metrics such as days on market (DOM) and the percentage of homes needing price cuts are also not available. This lack of information means that potential investors cannot accurately gauge how much they might spend on acquiring properties and what kind of competition they might face in the local real estate market.
The third question concerns tenant demand. The population and the percentage of renters in the area are both marked as N/A, indicating that there is insufficient data to assess the size of the rental market and the proportion of residents who are likely to seek rental housing. Without these figures, it's impossible to predict how easy or difficult it will be to find and retain tenants.
In summary, while the Fair Market Rent provides a benchmark for rental pricing at $1230, the absence of market rent, median home value, days on market, price cut percentages, population, and renter share data leaves significant gaps in the analysis. These missing pieces are essential for making informed decisions about investment opportunities in ZIP code 15134. Until these metrics are available, the feasibility of investing in this area remains uncertain.
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.