Location: Greene County, PA | Metro: Greene County, PA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
U.S. Census Bureau data (2024)
The ZIP code 15359 presents a dynamic rental market with significant implications for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area is set at $1,160 for fiscal year 2026, indicating a benchmark that rental properties should aim to meet or exceed to remain competitive. Current market rents, as reported by the Census American Community Survey (ACS), stand at $1,071. This suggests a slight gap between the actual rents being charged and the FMR, potentially signaling upward pressure on rents in the near future.
A key metric to consider is the 31.8% renter share, which reveals that over a third of the population in ZIP 15359 are renters. Such a high percentage of renters implies consistent demand for rental units, translating into a robust market for landlords. In areas with a substantial renter base, there's often less flexibility for homeowners to transition into the rental market during economic downturns, thus maintaining a steady demand for rental properties.
While specific figures for price-cut share, days on market (DOM), and median home value are unavailable, the overall snapshot points towards a market where demand might be outpacing supply. The proximity of current market rents to the FMR without surpassing it could suggest that there are enough rental units available to prevent significant rent inflation. However, the high renter share indicates a strong underlying demand that could lead to increased competition among renters, further supporting the potential for rising rents.
Landlords and investors should monitor these trends closely. The current alignment of market rents with the FMR provides a stable environment for setting rental prices. However, the high renter share suggests that any reduction in the number of available rental units could quickly increase competition among renters, driving up demand and potentially rents. This ZIP code offers a promising opportunity for those looking to invest in a market with sustained rental demand.
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.