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 | $870 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $106,862 | 1.05% | B |
| 3BR | $1,430 | $177,239 | 0.81% | C |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 15333, which encompasses the Fredericktown-Millsboro area in Washington County near Pittsburgh, PA, stands at $1060 for the fiscal year 2024. Given that the market rent data is currently unavailable, it's crucial to understand how the HUD FMR compares to typical rental rates in the area. The median home value in this ZIP code is $147,030, indicating a relatively affordable housing market.
To derive the rent-to-price ratio, we use the median home value. Assuming a standard mortgage payment (principal and interest) of around $630 based on a 4.5% interest rate over 30 years, and adding property taxes and insurance (estimated at $300), the total monthly cost for owning a median-priced home would be approximately $930. This figure is lower than the HUD FMR of $1060, suggesting that renting properties at the FMR could yield positive cash flow for landlords and small-portfolio investors.
The lack of specific market rent data makes it difficult to provide an exact comparison, but given the HUD FMR and the median home value, it's reasonable to infer that voucher tenants can cash flow at the FMR without requiring premium units. This inference is based on the assumption that the market rent is likely close to or slightly above the HUD FMR, allowing for manageable expenses for landlords while still being affordable for tenants.
Furthermore, the absence of specific data regarding the number of days on market (DOM) and the percentage of price cuts suggests a stable rental market. A stable market implies fewer fluctuations in rental prices and reduced instances where landlords need to offer discounts to attract tenants, thus maintaining steady cash flow.
The strongest investor angle in this market is cash flow, due to the favorable rent-to-price ratio and the stability indicated by the lack of significant price cuts or extended DOM periods. Investors can expect consistent returns with minimal risk, making this area an attractive option for those looking to build a solid rental portfolio.
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.