Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $830 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
ZIP 15140, located in Pitcairn, PA, within the Pittsburgh, PA HUD Metro FMR Area, presents a unique opportunity for inclusion in a Section 8 portfolio strategy. This ZIP code should be considered a cash-flow anchor due to the significant spread between the Fair Market Rent (FMR) set by HUD and the actual market rent.
The HUD FMR for a one-bedroom apartment in ZIP 15140 for fiscal year 2024 is $930. In contrast, the current market rent stands at $772. This discrepancy means that landlords participating in the Section 8 program can receive a higher rental income than what the market would typically offer. The difference of $158 per month acts as a buffer, ensuring steady and reliable cash flow from tenants who are guaranteed assistance through the voucher program.
The median home value in ZIP 15140 is $88,157, which is relatively low compared to other areas in the region. This lower valuation can make properties more accessible to first-time investors or those looking to enter the market with limited capital. However, the primary focus for a Section 8 portfolio should be on the rental aspect rather than the potential for property appreciation, given the lack of specific data on price-cut shares and days on market (DOM).
ZIP 15140 also has a high renter share of 60.8%, indicating a strong demand for rental properties. With a median income of $36,419, many residents likely qualify for the Section 8 housing assistance program, making this area an ideal location for landlords seeking stable tenant populations.
In summary, ZIP 15140 serves as a cash-flow anchor within a Section 8 portfolio strategy. Landlords can benefit from receiving rents above the market rate, while the high renter share ensures a consistent pool of qualified tenants. The combination of these factors makes this ZIP code a solid choice for generating predictable and sustainable income.
Data Sources: FMR data from HUD (2027). 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.