Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
ZIP code 15313, located within the Pittsburgh, PA HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1200 for fiscal year 2024. This figure aligns closely with the average FMR for the area, indicating that it is neither significantly above nor below the typical range.
The market rent for ZIP 15313 stands at $1,292, which is slightly higher than the FMR but still within a reasonable margin. This suggests that landlords in this ZIP can expect to charge a bit more than the FMR without drastically deviating from what is considered fair and competitive in the market.
The median home value in ZIP 15313 is $130,619, which is notably lower than the average home values in the broader Pittsburgh, PA HUD Metro FMR Area. This could indicate that the area is more affordable for potential buyers, but it also means that landlords might have less equity tied up in their properties compared to other parts of the metro area.
The renter share in ZIP 15313 is 9.1%, which is relatively low compared to many urban areas where the percentage of renters is much higher. However, this does not necessarily mean that the ZIP is unsuitable for rental investments; it simply reflects a lower concentration of renters.
Given these figures, ZIP 15313 appears to be a value pocket within the Pittsburgh, PA HUD Metro FMR Area. The combination of an FMR close to the metro average, a market rent that is only slightly higher, and a significantly lower home value suggests that it offers good opportunities for cost-effective investment. Additionally, while the renter share is not exceptionally high, the lower home values coupled with decent rental rates could make it an attractive location for Section 8 tenants, thereby providing a steady income stream for landlords.
To summarize, ZIP 15313 is positioned as a value pocket within the metro area, offering a balance between affordability and rental potential. Landlords and small-portfolio investors should consider this ZIP as a viable option for Section 8 properties due to its favorable economic indicators.
Data Sources: FMR data from HUD (2027). 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.