Section 8 Fair Market Rent (FMR) for ZIP 15211 - 2027

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

Investment Score for ZIP 15211

Monthly Rent (2BR)

$1,770

Median Price (2BR)

$191,257

1% Rule

0.93%

Annual Yield

11.11%

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	$1,370
1 Bedroom	$1,460
2 Bedrooms	$1,770
3 Bedrooms	$2,260
4 Bedrooms	$2,450
5 Bedrooms	$2,842
6 Bedrooms	$3,183
7 Bedrooms	$3,438
8 Bedrooms	$3,610

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
1BR	$1,460	$173,113	0.84%	C
2BR	$1,770	$191,257	0.93%	C
3BR	$2,260	$236,220	0.96%	C
4BR	$2,450	$277,350	0.88%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

10,728

Median Household Income

$79,758

Housing Units

6,816

Renter Percentage

53.2%

Occupancy Rate

88.6%

Renter Occupied

3,213

The neighborhood encompassing ZIP code 15211 in Pittsburgh, Pennsylvania, is characterized by a diverse mix of residential properties, including both rental units and owner-occupied homes. Nestled within the city's vibrant landscape, it offers a blend of urban amenities and community living, making it an attractive location for renters and buyers alike. For real estate investors, particularly those interested in Section 8 housing or general rental investments, understanding the local market dynamics is crucial.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 15211 for fiscal year 2024 is set at $1350, providing a benchmark for rental pricing that aligns with federal housing assistance programs.
The actual market rent, as measured by the Zillow Observed Rental Index (ZORI), stands at $1,561, indicating that the rental market is slightly above the FMR, offering potential for higher returns on investment.
The median home value in the area is $215,586, reflecting the affordability of the region compared to other parts of Pittsburgh.
Renters make up 53.2% of the population, suggesting a robust demand for rental properties and a competitive market for landlords.
The Days on Market (DOM) for rental listings averages 79 days, which is relatively low, pointing to quick turnover and efficient property management practices.
The median household income is $79,758, providing insight into the economic stability and spending power of residents, which can influence rental demand and tenant reliability.

Investors looking to enter the 15211 ZIP code market should note the alignment between FMR and market rents, indicating a healthy balance for both government-assisted and market-rate rentals. The strong rental demand, coupled with a median home value that is lower than the city average, suggests opportunities for both rental and resale investments. Additionally, the quick rental listing turnover time of 79 days points to an active and responsive market, beneficial for landlords seeking to maintain occupancy. With a median income above the national average, there is a solid economic foundation supporting the rental market, ensuring a steady flow of tenants who can afford the current rent levels.

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.