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 | $1,090 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $126,248 | 1.12% | B |
| 3BR | $1,800 | $249,578 | 0.72% | D |
| 4BR | $1,950 | $318,013 | 0.61% | D |
U.S. Census Bureau data (2024)
The rent math in ZIP 15312 does not align favorably for landlords. The Fair Market Rent (FMR) set at $1140 for fiscal year 2024 contrasts sharply with the actual market rent reported by the Census ACS, which stands at $816. This discrepancy suggests that landlords may struggle to justify higher rents based on the HUD's FMR guidelines.
Acquisition in this area is relatively affordable. The median home value is $210,720, which is accessible for many investors. However, the lack of available data on days on market (DOM) and the percentage of homes needing price cuts indicates a potential gap in understanding the local real estate market dynamics. Further investigation into these metrics would provide a clearer picture of the ease of acquiring properties.
Tenant demand in ZIP 15312 is moderate. With a total population of 3,603, approximately 18.1% are renters. This implies a limited pool of potential tenants, making it crucial for landlords to ensure their properties meet the needs of the local rental market to attract and retain tenants.
Overall, ZIP 15312 presents an opportunity for investors looking to enter an affordable market. However, the mismatch between HUD's FMR and actual market rents could pose challenges in pricing strategies. Given the moderate tenant demand, landlords should focus on offering competitive rents and maintaining high-quality properties to attract the available renters. While the area offers affordable entry points, careful consideration of local rental trends and property management practices will be key to success.
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.