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 | $1,080 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $1,940 |
| 5 Bedrooms | $2,250 |
| 6 Bedrooms | $2,520 |
| 7 Bedrooms | $2,722 |
| 8 Bedrooms | $2,858 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,400 | $189,157 | 0.74% | D |
| 3BR | $1,790 | $269,359 | 0.66% | D |
| 4BR | $1,940 | $397,029 | 0.49% | F |
U.S. Census Bureau data (2024)
The median household income in ZIP code 15342, Houston, PA, stands at $92,402. At first glance, this figure seems robust, but when considering the market rate for rent, which is $1,058 according to the Census ACS, it becomes evident that housing costs represent a significant portion of the average resident's budget. To put this into perspective, the monthly rent of $1,058 accounts for approximately 11.5% of the annual median income, assuming all income is earned throughout the year without interruption.
However, the financial landscape shifts when comparing the market rate to the Federal Market Rent (FMR) standard set for the Housing Choice Voucher Program, also known as Section 8, which is $1,200 for zip code 15342 in fiscal year 2024. This means that the government's benchmark for affordable rental housing exceeds the current market rate by $142 per month. The disparity between the FMR and the actual market rate highlights a potential opportunity for landlords who accept vouchers, as they could potentially receive higher rent payments than the current market rate.
ZIP 15342 has a population of 5,097, with 16.6% of residents being renters. Given these numbers, the competition among landlords is relatively low compared to densely populated urban areas. However, the affordability gap, where the FMR exceeds the market rate, could lead to an increase in demand for properties that accept Section 8 vouchers, especially from tenants seeking to maximize their housing benefits.
The takeaway for landlords considering whether to accept vouchers or focus on cash-paying tenants is clear. While the market rate of $1,058 might be attractive to some, the potential to earn $1,200 through the Section 8 program could make accepting vouchers a more lucrative option. Landlords should weigh the administrative aspects of participating in the voucher program against the financial benefits and consider the demographic makeup of their tenant pool. For those willing to navigate the requirements of the Section 8 program, the opportunity to secure a steady, government-backed income stream above the current market rate is compelling.
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.