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 | $1,000 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $173,574 | 0.75% | D |
| 3BR | $1,650 | $271,415 | 0.61% | D |
| 4BR | $1,790 | $408,059 | 0.44% | F |
U.S. Census Bureau data (2024)
Scenery Hill, PA, located in ZIP code 15360, is a small, predominantly owner-occupied community with a population of 1,690 residents. The median household income stands at $85,341, indicating a relatively affluent area where the majority of residents can afford to own homes. The median home value in the area is $256,871, reflecting the high quality and desirability of the housing stock. However, only 9.7% of the population are renters, suggesting a limited rental market.
The Federal Market Rent (FMR) for ZIP code 15360 in fiscal year 2024 is set at $1240. This is significantly higher than the actual market rent of $727, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy presents an opportunity for landlords and small-portfolio investors who can leverage the higher FMR to secure Section 8 contracts, ensuring a stable and government-backed source of income.
Given the characteristics of Scenery Hill, the area is better suited for a hands-off voucher operator rather than a hands-on value-add buyer. The low percentage of renters and the affluent nature of the community mean that there is less room for increasing occupancy or rent prices through active management. Instead, investors should focus on properties that can benefit from the guaranteed income stream provided by the Section 8 program. This strategy minimizes the need for extensive property improvements or aggressive tenant screening, which are typically required in more competitive rental markets.
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.