Section 8 Fair Market Rent (FMR) for ZIP 15146 - 2027

Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area

Investment Score for ZIP 15146

Monthly Rent (2BR)

$1,520

Median Price (2BR)

$175,046

1% Rule

0.87%

Annual Yield

10.42%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,180
1 Bedroom	$1,250
2 Bedrooms	$1,520
3 Bedrooms	$1,940
4 Bedrooms	$2,110
5 Bedrooms	$2,448
6 Bedrooms	$2,742
7 Bedrooms	$2,961
8 Bedrooms	$3,109

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,520	$175,046	0.87%	C
3BR	$1,940	$223,880	0.87%	C
4BR	$2,110	$322,431	0.65%	D
5BR	$2,448	$361,650	0.68%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

28,332

Median Household Income

$79,300

Housing Units

13,901

Renter Percentage

31.1%

Occupancy Rate

91.1%

Renter Occupied

3,941

Monroeville, PA, located in ZIP code 15146, is a suburban area known for its blend of residential tranquility and proximity to urban amenities. This location presents a balanced opportunity for real estate investors looking to capitalize on rental properties while also considering potential appreciation in property values.

The Fair Market Rent (FMR) for a two-bedroom apartment in Monroeville for fiscal year 2024 is set at $1380, providing a benchmark for rental pricing that landlords can use to ensure their properties remain competitive.
The actual market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $1,288, which is slightly below the FMR, suggesting a modest gap between government estimates and real-world conditions.
The median home value in the area is $227,498, offering a middle ground for investment opportunities where property values are accessible yet have potential for growth.
Renters make up 31.1% of the housing market in Monroeville, indicating a significant portion of the population is interested in leasing rather than owning homes, which is favorable for landlords.
The days on market (DOM) for rental listings is 18 days, reflecting a relatively quick turnaround time for filling vacancies, which is beneficial for maintaining steady cash flow.
The median household income in Monroeville is $79,300, providing a stable economic foundation for tenants to afford consistent rental payments.

Investors should take note of the strong rental market presence and the quick vacancy fill rates in Monroeville. Despite the median home value being lower than some surrounding areas, the combination of a substantial renter share and days on market suggests that rental properties can perform well. The slight difference between the ZORI and FMR indicates that there might be room for slight price adjustments without losing tenants. Given these factors, Monroeville offers a solid investment opportunity for those focusing on rental income with the potential for property value appreciation over time.

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.