Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The ZIP code 15361 represents a unique area, primarily characterized by its low density and specific demographic makeup. With a population of just 107 residents, it stands out as an exceptionally small community. Notably, there are no renters recorded, indicating that the area is almost entirely composed of homeowners. The median income and median home value for this ZIP code are not available, which suggests either a very specialized or limited dataset for this region.
Moving into the economic considerations for rental properties, the Fair Market Rent (FMR) for ZIP 15361 in fiscal year 2024 is set at $1080. This figure serves as a benchmark for housing costs supported by the Section 8 program, but without specific market rent data, it's challenging to compare the FMR against local conditions. However, given the absence of renters in the area, any new rental property would likely be a significant addition to the local landscape.
Considering these factors, ZIP 15361 might not be ideal for a hands-off voucher operator due to the scarcity of rental units and the lack of established rental market data. Instead, a hands-on value-add buyer could potentially find opportunities here. By developing rental properties that align with the $1080 FMR, such an investor could cater to the needs of individuals seeking housing support through the Section 8 program, while also addressing any emerging demand for rental housing in this predominantly owner-occupied community.
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.