Location: Greene County, 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 | $1,060 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,370 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,730 | $302,776 | 0.57% | F |
U.S. Census Bureau data (2024)
ZIP code 15377, located within the Greene County, PA metro, presents an interesting comparison against typical ZIP codes in the same county. The Fair Market Rent (FMR) for ZIP 15377 in fiscal year 2024 is set at $1130. This figure is notably higher than the average market rent of $884 for the area, suggesting that rental properties in this ZIP code command a premium over what might be considered the norm for Greene County.
The median home value in ZIP 15377 stands at $259,158. This is a significant metric when evaluating real estate markets, as it reflects the overall cost of homeownership. In the context of Greene County, this value indicates that homes in ZIP 15377 are priced above the typical range, positioning it as a premium sub-market within the larger Greene County metro.
A key consideration for landlords and small-portfolio investors interested in Section 8 housing is the percentage of renters in the area. ZIP 15377 has a renter share of 16.4%. While this figure alone does not indicate a value pocket or a sweet spot for Section 8 investments, when combined with the relatively high FMR and premium home values, it suggests that the ZIP code could be attractive for those looking to invest in rental properties that cater to both market-rate and potentially subsidized tenants.
However, it's important to note that the divergence between the FMR and the market rent, where the FMR is significantly higher, can be indicative of a situation where Section 8 vouchers are less common or where there is a higher demand for rental units that may not be fully covered by voucher amounts. This scenario would make ZIP 15377 more suitable for investors focusing on market-rate rentals rather than those primarily seeking Section 8 tenancy.
In summary, ZIP 15377 appears to be a premium sub-market within the Greene County, PA metro, characterized by higher-than-average rents and home values. Its 16.4% renter share places it somewhere between a mid-tier neighborhood and a potential value pocket for certain types of rental investments, though the specifics of Section 8 participation require further investigation into local voucher availability and utilization rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.