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 | $1,000 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,640 | $264,117 | 0.62% | D |
U.S. Census Bureau data (2024)
The ZIP code 15311 is primarily a homeowner-dominated area with a relatively small percentage of renters at 10.0%. This suggests that the demand for housing vouchers under the Section 8 program is likely to be less intense compared to areas with higher percentages of renters. The total population of 843 indicates a small community, which further supports the notion of a limited rental market.
The median household income in this ZIP code is $75,050. When comparing this figure to the average market rent of $536, it becomes evident that rent consumes a relatively small portion of the local income. In fact, the typical rent represents only about 7.8% of the median household income. This low rent-to-income ratio is favorable for landlords, as it implies that tenants are more likely to afford their rent payments without significant financial strain.
However, the Fair Market Rent (FMR) for the area is set at $1090 (for FY 2024), which is nearly double the current market rent. This discrepancy highlights that while the local rental market is affordable, it may not be fully aligned with the federal guidelines for what constitutes a fair rent. Landlords should consider this when setting rents to ensure they are competitive yet realistic within the context of federal assistance programs.
In terms of tenant profiles, landlords in ZIP 15311 can expect to attract tenants who are financially stable and capable of meeting their rental obligations. Given the homeowner-dominated nature of the area, these tenants are likely to be individuals or families who prefer or require renting over homeownership due to personal circumstances, such as job relocation or temporary living situations. Additionally, the presence of Section 8 vouchers will be less common, but still available, particularly for those who qualify based on the lower income thresholds relative to the FMR.
To summarize, ZIP 15311 offers a stable rental market with affordable rents, making it an attractive location for landlords and small-portfolio investors. The expected tenant base will consist of financially secure individuals or families, with a moderate likelihood of encountering tenants utilizing Section 8 vouchers.
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.