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 | $1,360 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,760 | $231,453 | 0.76% | D |
| 3BR | $2,250 | $315,607 | 0.71% | D |
| 4BR | $2,440 | $494,161 | 0.49% | F |
| 5BR | $2,830 | $804,265 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 15243 in Pittsburgh, PA stands out due to its unique demographic and economic characteristics. With a total population of 13,456, it has a relatively low rental rate at 14.1%, indicating that the majority of residents own their homes. The median income in this area is strong at $116,200, which supports the high median home value of $334,309. This combination of factors suggests a community that is largely financially stable and invested in homeownership.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 15243 is set at $1,490 for fiscal year 2024. In contrast, the Census American Community Survey (ACS) indicates that the market rent is slightly higher at $1,543. This small discrepancy means that landlords can expect to receive a rental amount close to market rates when participating in the Section 8 program, making it a viable option for those seeking to attract tenants through the voucher system.
The data signature for ZIP 15243 reads as predominantly stable. The high median home value and income levels suggest a neighborhood where residents have significant financial resources and are likely to remain in their homes long-term. While the rental rate is low, the modest difference between the FMR and market rent ensures that the Section 8 program remains relevant and competitive for the minority of renters in the area.
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.