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 | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $110,164 | 1.09% | B |
| 3BR | $1,530 | $152,529 | 1% | B |
| 4BR | $1,660 | $169,323 | 0.98% | C |
U.S. Census Bureau data (2024)
ZIP code 15137, located in North Versailles, PA, falls within the broader Pittsburgh, PA HUD Metro FMR Area. The Fair Market Rent (FMR) for 15137 in fiscal year 2024 is set at $1000, while the average market rent is slightly higher at $1,256. This indicates that the area is somewhat affordable compared to other parts of the metro, but still close to the actual rental rates.
The median home value in 15137 is $134,404, which is notably lower than the typical home values found in other ZIP codes within the Pittsburgh, PA HUD Metro FMR Area. This suggests that 15137 could be considered a value pocket within the larger metro region, offering relatively cheaper housing options.
With a renter share of 32.5%, North Versailles has a significant portion of its population renting rather than owning homes. This percentage is higher than the national average, which can indicate a strong demand for rental properties. However, when combined with the lower home values, it also implies that the area might have a higher concentration of low-income residents who rely on programs like Section 8 to afford housing.
In comparison to other ZIP codes within the Pittsburgh, PA HUD Metro FMR Area, 15137 stands out due to its lower FMR and home values. While the market rent is above the FMR, it remains competitive within the metro. The higher renter share in conjunction with below-average home values suggests that 15137 could be an attractive location for landlords and small-portfolio investors interested in Section 8 tenants. It represents a niche market where affordability is key, and rental properties are in demand.
To further contextualize, let's examine how these figures stack up against the typical ZIP codes within the metro. A typical ZIP code within the Pittsburgh, PA HUD Metro FMR Area would likely have higher home values and possibly closer FMR and market rent figures. The divergence in 15137, with a higher renter share and lower home values, makes it a unique opportunity for those looking to capitalize on the needs of lower-income renters.
Based on the data provided, 15137 appears to be a value pocket within the Pittsburgh, PA HUD Metro FMR Area. It offers a mix of affordability and potential demand for rental properties, particularly among those seeking assistance through government programs like Section 8. For investors, this means that while property values are lower, there is a robust tenant base ready to take advantage of the available rental units.
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.