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 | $1,100 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,420 | $134,737 | 1.05% | B |
| 3BR | $1,810 | $173,129 | 1.05% | B |
| 4BR | $1,970 | $238,577 | 0.83% | C |
| 5BR | $2,285 | $283,362 | 0.81% | C |
U.S. Census Bureau data (2024)
The ZIP code 15235 in Pittsburgh, PA, is home to 33,951 residents, with 25.2% of them being renters. This indicates that while it is not overwhelmingly dominated by renters, there is still a significant portion of the population that relies on rental housing. The median household income in this area is $67,240, which provides a baseline for understanding the financial capacity of potential tenants.
The market rent for the area is set at $1,327, which represents approximately 19.7% of the median household income. This percentage is calculated by dividing the market rent by the median household income and multiplying by 100 (1327/67240 * 100 = 19.7%). Given that the Fair Market Rent (FMR) for FY 2024 is $1210, the market rent slightly exceeds the FMR, suggesting a modest premium over the federally determined fair rent.
A landlord in ZIP 15235 should anticipate a tenant pool that includes individuals and families who rely on Section 8 vouchers. These vouchers help cover the cost of rent, making it possible for lower-income households to afford living in areas with higher market rents. With the FMR being lower than the market rent, Section 8 tenants would likely be able to find housing options that fit within their budget, albeit potentially requiring some additional contribution from their own income.
To further refine expectations, consider that the income of a typical Section 8 household is capped at 50% of the Area Median Income (AMI), which in this case would be around $33,620. This means that landlords should prepare for tenants whose total income might be significantly lower than the median household income of the area. Despite this, the presence of Section 8 vouchers can stabilize the rental market and ensure consistent rent payments.
In conclusion, ZIP 15235 is a moderately renter-heavy area with a substantial demand for housing assistance through Section 8 vouchers. Landlords should expect tenants who are financially supported by these vouchers and may have a lower overall income compared to the average resident. However, the combination of vouchers and the modest premium of market rent over FMR suggests a balanced opportunity for both affordable housing and reasonable returns for property owners.
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.