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 | $1,120 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,450 |
| 3 Bedrooms | $1,850 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,450 | $108,741 | 1.33% | A |
| 3BR | $1,850 | $173,933 | 1.06% | B |
| 4BR | $2,010 | $179,379 | 1.12% | B |
U.S. Census Bureau data (2024)
142,679 The median home value in ZIP 15207, Pittsburgh, PA, stands at $142,679, indicating a relatively affordable housing market. 57,427 With a median income of $57,427, residents have a stable financial base to support rental and homeownership activities. 33.3 In terms of occupancy, 33.3% of the population are renters, highlighting a significant demand for rental properties. 1345 Market rent, measured by ZORI, is $1,345, which is slightly below the Fair Market Rent (FMR) set by HUD at $1200 for FY 2024. This suggests that landlords can potentially offer competitive rates while still remaining within the subsidized threshold. 1200 However, it's important to note that the HUD FMR of $1200 provides a benchmark for what is considered a fair rent for a two-bedroom unit, which could influence rental pricing strategies. 0.2 The low price-cut share of 0.2% indicates that property values are generally holding steady, without significant discounts being applied to listings. N/A-day The data does not provide a specific figure for days on market (DOM), but the absence of high DOM values implies a brisk sales pace, suggesting strong interest in real estate investments. 1200 In conclusion, the HUD FMR of $1200 for FY 2024 sets a clear guideline for rental pricing, making Section 8 participation viable. 1345 Given the market rent at $1,345, there is a slight margin where landlords can balance between market rates and government subsidies. 142679 With the median home value at $142,679 and median income at $57,427, the area presents a favorable environment for both rental and homeownership investments. 33.3 A substantial 33.3% of the population are renters, ensuring a steady demand for rental units. 1200 Participation in the Section 8 program is advisable due to the alignment between market conditions and HUD guidelines.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.