Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
ZIP code 15339, located within the Pittsburgh, PA HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1060 for fiscal year 2024. This figure is crucial for understanding the rental market dynamics in this area compared to the broader metro region.
The FMR of $1060 is indicative of the minimum rent level that landlords can charge to tenants participating in the Section 8 program. For landlords and small-portfolio investors, this means that properties in ZIP 15339 must be priced at or below this amount to qualify for Section 8 subsidies. However, without specific data on market rents and home values for ZIP 15339, it's challenging to categorize it precisely as a value pocket, mid-tier neighborhood, or premium sub-market within the Pittsburgh metro area.
Given that the market rent and home value data are not available for ZIP 15339, we cannot directly compare these metrics to the typical figures for the Pittsburgh, PA HUD Metro FMR Area. Nevertheless, the absence of a reported renter share percentage suggests that the proportion of renters in this ZIP code might be lower than in other areas where such data is typically collected and reported. This could imply that ZIP 15339 leans more towards owner-occupied homes rather than rentals, which might affect its attractiveness as a Section 8 location.
To determine if ZIP 15339 is a value pocket or a premium sub-market, we would need additional data points, such as the average market rent and home values. If the actual market rent is significantly higher than the FMR, it could indicate that ZIP 15339 is a value pocket for Section 8 participants, offering subsidized housing in an area where market rates exceed the subsidy levels. Conversely, if the home values are relatively low, it might suggest that this area is more affordable, making it potentially attractive for both Section 8 participants and investors looking for entry-level rental opportunities.
In summary, while ZIP 15339's FMR of $1060 aligns with the Section 8 guidelines for the Pittsburgh metro area, the lack of market rent and home value data prevents a definitive classification. Investors should seek out supplementary information to fully assess the potential of this ZIP code within the context of the broader Pittsburgh rental market.
Data Sources: FMR data from HUD (2027).
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.