Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,720 |
| 2 Bedrooms | $2,080 |
| 3 Bedrooms | $2,650 |
| 4 Bedrooms | $2,880 |
| 5 Bedrooms | $3,341 |
| 6 Bedrooms | $3,742 |
| 7 Bedrooms | $4,041 |
| 8 Bedrooms | $4,243 |
U.S. Census Bureau data (2024)
ZIP code 15142 is situated within the broader Pittsburgh, PA HUD Metro Fair Market Rent (FMR) area. Its FMR of $1310 for fiscal year 2024 is slightly below the average market rent of $1,427, indicating that it offers rental properties at a somewhat lower cost compared to the overall market. The median home value in ZIP 15142 stands at $670,938, which is indicative of a middle-range property price point within the Pittsburgh metro area.
The renter share in ZIP 15142 is 37.1%, which is notably higher than the typical renter share found in many other ZIP codes within the Pittsburgh metro area. This suggests that there is a significant demand for rental properties in this area, which can be advantageous for landlords and small-portfolio investors looking to capitalize on this trend.
Based on these figures, ZIP 15142 appears to be a mid-tier neighborhood within the Pittsburgh metro area. It does not represent the most expensive sub-market, nor does it fall into the category of being a value pocket where both rents and home values are significantly lower. Instead, it offers a balance between affordability and desirability, with rental prices slightly below the market average but still offering a decent return on investment.
A divergence worth noting is the high renter share combined with below-average home values relative to the metro area. This combination often points towards a sweet spot for Section 8 housing, as it suggests a strong tenant base in an area where property acquisition costs might be more manageable than in premium sub-markets.
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.