Location: Greene County, 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 | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,210 | $202,703 | 0.6% | F |
U.S. Census Bureau data (2024)
The ZIP code 15320, located in Greene County, PA, serves as a solid cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for ZIP 15320 in fiscal year 2024 is set at $940, while the current market rent stands at $746. This indicates a positive spread of $194 between the FMR and market rent, ensuring that landlords receive above-market rates when renting to tenants covered under the Section 8 program.
The median home value in ZIP 15320 is $167,352, which is relatively low compared to other areas. This makes it an attractive location for small-portfolio investors looking to maximize their monthly cash flow. With a median income of $64,213, there is a sufficient population eligible for the Section 8 program, supporting the demand for affordable housing.
While ZIP 15320 does not present significant opportunities for appreciation, given the lack of specific data indicating rapid price increases or short days on market (DOM), it still offers stability and predictable returns. The 23.6% renter share suggests a balanced mix of homeowners and renters, which can be beneficial for diversifying a real estate investment portfolio.
In conclusion, ZIP 15320 is best suited as a cash-flow anchor due to the favorable spread between the FMR and market rent, coupled with a lower median home value that supports above-average rental income through the Section 8 program.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.