Section 8 Fair Market Rent (FMR) for ZIP 15236 - 2027

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

Investment Score for ZIP 15236

Monthly Rent (2BR)

$1,470

Median Price (2BR)

$199,095

1% Rule

0.74%

Annual Yield

8.86%

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	$1,140
1 Bedroom	$1,210
2 Bedrooms	$1,470
3 Bedrooms	$1,880
4 Bedrooms	$2,040
5 Bedrooms	$2,366
6 Bedrooms	$2,650
7 Bedrooms	$2,862
8 Bedrooms	$3,005

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,470	$199,095	0.74%	D
3BR	$1,880	$251,720	0.75%	D
4BR	$2,040	$340,807	0.6%	F
5BR	$2,366	$384,554	0.62%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

31,313

Median Household Income

$90,767

Housing Units

14,228

Renter Percentage

22.5%

Occupancy Rate

94.2%

Renter Occupied

3,015

The ZIP code 15236 is situated in the vibrant North Side neighborhood of Pittsburgh, Pennsylvania. This area is known for its blend of urban living and suburban comfort, offering residents access to cultural attractions, green spaces, and diverse housing options. For real estate investors, particularly those interested in Section 8 properties, understanding the local rental market dynamics is crucial.

The Fair Market Rent (FMR) for ZIP 15236 in fiscal year 2024 is set at $1220, providing a benchmark for rental rates that align with federal housing assistance programs.
The market rent, as measured by Zillow's ZORI index, stands at $1,108, slightly below the FMR, indicating a competitive yet stable rental environment.
The median home value in this ZIP code is $249,557, reflecting the affordability of the area compared to other parts of Pittsburgh.
Renters make up 22.5% of the population, suggesting a significant demand for rental properties but also a substantial owner-occupied housing stock.
The days on market (DOM) for rental listings is 18 days, which is relatively quick, pointing to strong tenant interest and a brisk rental market.
The median household income is $90,767, providing insight into the economic health of the area and the potential financial stability of tenants.

Investors in ZIP 15236 can leverage these metrics to make informed decisions. The FMR being higher than the market rent offers a margin for profitability when participating in Section 8 programs. The median home value indicates a good entry point for purchasing properties, while the relatively high renter share and quick DOM suggest a robust rental market. Coupled with the median income, these factors paint a picture of a neighborhood where rental properties can thrive, especially if they meet the criteria for Section 8 eligibility.

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.