Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors targeting ZIP code 15348, located in the Pittsburgh, PA HUD Metro FMR area, reveals several key points. The HUD Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $1060. This figure represents the maximum amount that voucher holders can pay towards their rent. However, due to the lack of current market rent data for the area, it's challenging to make an exact comparison between the HUD FMR and what the market currently demands.
In the absence of market rent figures, we can infer that voucher tenants would likely cashflow at the HUD FMR rate, assuming the HUD FMR is below the typical market rates. This inference is based on historical trends where HUD FMRs are often lower than actual market rents, thus providing a positive cashflow scenario for landlords. However, without precise market rent data, this remains an assumption rather than a definitive statement.
The median home value in the area is also not available, which makes deriving a precise rent-to-price ratio impossible. Typically, a higher median home value indicates a potentially stronger appreciation market, but this cannot be confirmed with the current data. Nevertheless, the lack of median home value data does not negate the potential for strong investment returns through other means, such as consistent cashflow.
Regarding days on market (DOM) and price cut shares, these figures are also not available. These metrics are crucial for understanding the rental versus buying dynamics, especially how quickly properties sell or rent out and the frequency of price adjustments. Despite the missing data, the stability of the HUD FMR provides a reliable benchmark for long-term investments, suggesting that the area offers predictable income streams for landlords and small-portfolio investors.
The strongest investor angle in ZIP 15348 appears to be cashflow, given the HUD FMR rate and the assumption that market rents are higher. This angle is particularly appealing for those seeking steady, passive income from their real estate investments.
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.