Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,170 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $1,930 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
ZIP 15202 in Pittsburgh, PA, fits best as a cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the area in fiscal year 2024 is set at $1190, which is above the current market rent of $1169. This creates a positive spread that ensures consistent cash flow for landlords participating in the program.
The median home value in ZIP 15202 stands at $220,926. While this figure is relatively stable, the primary focus for Section 8 landlords should be on the guaranteed rental income rather than potential property appreciation. The 0.2% price-cut share and N/A-day Days on Market (DOM) indicate that while there might be some appreciation potential, it is not significant enough to outweigh the benefits of steady cash flow.
ZIP 15202 has a 48.0% renter share, meaning nearly half of the residents are renters. With a median income of $68,287, there is sufficient economic stability to support the housing needs of low-income families through the Section 8 program. This demographic mix supports the idea that this ZIP code can provide reliable tenants who will pay their rent on time, thereby serving as a dependable cash-flow source.
In summary, ZIP 15202 is best suited as a cash-flow anchor due to the favorable spread between the FMR and market rent, ensuring landlords receive a consistent and slightly higher-than-market rental income. The economic conditions and high renter share further reinforce this strategy, making it an ideal choice for landlords looking to stabilize their income streams.
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.