Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,480 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
The Fair Market Rent (FMR) for ZIP code 15295 in Pennsylvania for fiscal year 2024 is set at $1230. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not necessarily the amount you will receive as rent; rather, it's a benchmark used by the housing authority to determine reasonable rent levels.
In ZIP 15295, the local market rent is currently N/A. However, the percentage of renters who could potentially qualify for Section 8 assistance is N/A%, indicating a significant demand for affordable housing in the area. This high demand suggests that there is a good chance of finding tenants who need Section 8 vouchers.
The acquisition cost for properties in this area is also N/A. This means that while you might not be able to charge the full FMR as rent, you can still find properties that fit within your investment budget. The key here is to ensure that the rent you charge does not exceed the FMR limit, even if the property's value suggests a higher rent.
To make a sound decision about your first Section 8 rental, verify that the property meets all the required standards for habitability and safety. This includes ensuring that the home is free from health and safety hazards, has proper heating, and is structurally sound. These standards are crucial because they directly impact the eligibility of your property for Section 8 tenancy.
Data Sources: FMR data from HUD (2027).
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.