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 | $1,220 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,000 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,300 | $113,824 | 1.14% | B |
| 2BR | $1,570 | $173,918 | 0.9% | C |
| 3BR | $2,000 | $251,548 | 0.8% | D |
| 4BR | $2,180 | $349,074 | 0.62% | D |
| 5BR | $2,529 | $363,381 | 0.7% | D |
U.S. Census Bureau data (2024)
ZIP 15220, located in the Pittsburgh, PA area, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the alignment of the Fair Market Rent (FMR) and market rent values, which ensures steady and reliable income.
The FMR for ZIP 15220 in fiscal year 2024 is set at $1390, while the current market rent stands at $1,392. The negligible difference of only $2 between these two figures means that landlords participating in the Section 8 program can expect their rental incomes to closely match market rates. This tight spread minimizes financial risk and provides a predictable cash flow, making it an ideal choice for those looking to stabilize their investment portfolio.
Additionally, the median home value in ZIP 15220 is $235,841. This figure suggests a relatively stable housing market, further supporting the cash-flow anchor designation. Landlords can be assured that their properties will maintain a reasonable level of value, contributing to long-term financial security.
The low price-cut share of 0.2% and the lack of significant days on the market (DOM) data indicate that the rental market is competitive and that units are likely to be occupied quickly, reducing vacancy rates and ensuring consistent cash flow.
The renter share in ZIP 15220 is 44.8%, and the median income is $75,611. While these factors suggest a diverse tenant base, they do not outweigh the benefits of the cash-flow anchor status. The high renter share means there is strong demand for rental properties, but the median income figure does not significantly impact the decision to classify ZIP 15220 as a cash-flow anchor since the primary focus is on the alignment of FMR and market rents.
In summary, ZIP 15220 should be considered a cash-flow anchor due to the near-perfect alignment of FMR and market rents, a stable housing market, and quick occupancy rates. These factors ensure a reliable and predictable income stream for landlords and small-portfolio investors.
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.