Location: Pittsburgh, PA | Metro: Pittsburgh, PA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
U.S. Census Bureau data (2024)
The classification of ZIP code 15365 hinges on its financial metrics, particularly focusing on yield and stability. The Fair Market Rent (FMR) for ZIP 15365 in fiscal year 2024 is set at $1060. This figure represents the maximum rent that a tenant participating in the Section 8 program would pay. However, the absence of market rent and home value data suggests an incomplete picture for yield analysis.
In terms of stability, the ZIP code presents a mixed profile. With only 13.3% of residents being renters, the area leans towards homeownership, which could imply lower demand for rental properties. Additionally, the median household income in the area is $71,944, indicating a moderate economic base. Without specific data on the days on market (DOM), it's challenging to assess the liquidity of rental properties in this area.
To conclude, ZIP 15365 does not fit neatly into a high-yield/low-stability flip-style market or a steady-cashflow zone. The low percentage of renters (13.3%) points towards a less volatile rental market but also suggests limited potential for rapid property turnover or flipping. The median income level ($71,944) provides some assurance of tenant financial stability but does not guarantee high rental yields given the lack of comparative market rent data.
Investors should proceed with caution, focusing on the FMR as a key benchmark for rental pricing. Given the limited data, it's advisable to seek additional local insights on rental market dynamics and property values before making investment decisions.
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.